Nassau County home prices slightly drop

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A report from Multiple Listing Service Long Island showed a small drop in home sales from November to December. (Photo courtesy of Multiple Listing Service Long Island)

Nassau County home prices fell by 2 percent from November to December with a reported median closed sale price of $515,000, according to a monthly report recently released by Multiple Listing Service Long Island.

Prior to the slight drop, the median home price for closed sales in the county was listed as $525,000 since September.

December’s recorded median home price exhibits a 4 percent increase in Nassau County home prices over the past year with the median home price in December 2017 being $495,000.

Nassau’s median home price for pending sales in December is also listed as $515,000.

Some 998 homes sales listed in December’s report reflects a decrease from the month prior which recorded 1,115 homes sales.

It is also a 6.6 percent drop from December 2017 when 1,069 homes were sold in the county.

Data for the last year showed the number of home sales peaked in August and then began to decrease throughout the fall.

Early in the year, home sales remained below 1,000 until a jump in June when 1,302 homes were sold.

There were 4,348 home options for buyers in Nassau County, an almost 13 percent drop in inventory since November which recorded 4,978 homes for sale.

December’s contracted sales, listed as 848 homes, was a 4.2 percent increase from the same month the year before which recorded 814 homes.

In November, there were 956 pending home sales reported in the county.

Neighboring Suffolk County’s median sales price for the month of December was $380,000, which is over 25 percent lower than Nassau’s median sales price. Although for Suffolk, it is a 5.3 increase from December 2017.

Long Island as a whole, for which the report includes statistics from Queens, had a combined closed median sale price of $460,000, which is a 4.5 percent increase from the year prior and a 1.1 percent increase from November.

Prospective Long Islanders had 14,342 homes to choose from during the month of December, which represents a 13 percent drop in inventory since November when 16,483 homes available.

December’s home inventory on Long Island is an increase of about 12 percent from December 2017.

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