Some 1,321 homes were sold in Nassau County last month, a 12 percent drop from the number sold in the same month last year, according to Multiple Listing Service Long Island’s monthly housing report.
August home sales were higher than those in July, which also recorded a lower number of home sales than the year before.
Home buying trends over the last 24 months show that the number of homes sold typically peaks in August and drops in September and then gradually tapers until the end of the year, when there is a small spike around the holiday season. Home buying has stayed low in the early months of the calendar year until gradually rising again throughout the spring to get to its highest levels again in the summer.
The number of pending sales in August was 1,341 homes, a 4.5 percent increase over the year before, when 1,283 homes had pending sales.
Of the 1,321 homes sold last month, the median price was $555,000, a rise of 0.9 percent from August 2018.
The median price of home sales in August rose 1.8 percent from July’s median home price of $545,000.
Multiple Listing Service recorded a median price for pending sales in the county of $530,000, which is a 1 percent increase from the same month the year before.
There were over 5,900 homes available for Nassau County home shoppers last month, a drop of 3.7 percent from July. On Long Island, there were 18,418 homes available, which was a drop of almost 3.8 percent from July, when there were 19,144 homes available. Long Island’s home inventory in August was up 5.82 percent from the year before.
Multiple Listing Service includes Queens County in its Long Island housing statistics.
Neighboring Suffolk County also saw an increase in its median home sale last month, though greater at 3.8 percent. The recorded median price for Suffolk homes last month was $415,000, while the same month last year it was $400,000.
Meanwhile, Queens County recorded a 4.1 percent decrease in the median price of closed home sales, going down from $610,000 in August 2018 to $585,000 last month.