Home sales in Nassau up 9.8 percent

Stephen Romano

Home sales in Nassau County rose 9.8 percent in 2016, increasing to 9,830 from 2015’s 8,945, according to an annual market report from Daniel Gale Sotheby’s International Realty.

The report, which provides data on the areas the company operates in, listed the average price of sold properties as $1,293,530, up from $1,003,159 in 2015.

“We have experienced slow, steady, and as such healthy growth in Nassau County over recent years,” said Deirdre O’Connell, general sales manager for Daniel Gale Sotheby’s International Realty. “Over all Nassau County is considered among the most affluent in the country, and the moderate pace points toward a solid future. We see a possibility for mortgage rate hikes in 2017 which will motivate buyers to make decisions sooner.”

Homes in Nassau County sold for a median price of $650,000, and a Sands Point home sold for $19.2 million, the largest sale on Long Island, the report shows.

In total, 35 homes were sold in Sands Point for an average price of $2,844,086.

Home sales were strong on the North Shore with areas such as Roslyn, Manhasset Hills, New Hyde Park and Port Washington finishing the year with a high number of properties sold for a price higher than the previous year.

In Port Washington, both the median and average sale prices rose, with 209 properties sold, which was higher than 2015’s 251.

New Hyde Park saw 293 sales, Manhasset saw 188, Manhasset Hills netted 39, East Hills saw 70, East Williston had 24 and Albertson had 64.

The average and median price of Great Neck properties sold rose only slightly, but sales increased from 252 to 305.

In Floral Park, the number of home sales rose from 194 to 241, while the average price rose from $548,577 to $555,269. However, the median price fell slightly.

Condo sales, which are listed separately by the agency, rose from 2015 to 2016, too — with Port Washington rising from 57 to 69, Great Neck increasing from 258 to 261 and North Hills increasing from 14 to 76. Condos in Great Neck sold at an average price of $326,473, only slightly higher than 2015.

A condominium in Manhasset, at $2.7 million, was the highest sold condo on the North Shore, the data shows.

Condos in Manhasset sold for an average price of $1,269,898 and a median price of $1,200,000.

O’Connell said the market’s strength in 2016 should transfer over to 2017, with an increase in transactions and the average price.

“It’s realistic to expect an increase in both transactions and overall sales volume for 2017 (as compared to 2016),” she said. Since the residential market varies from town to town we see prices appreciating but it will vary based on location, demand and inventory.”

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