Long Island Home Prices Soar From May To June, Data Shows

long island home prices

Buying homes on Long Island in June comes with a hefty price tag, according to a new report from the Multiple Listing Service of Long Island.

The Long Island-wide data, which includes Queens in MLSLI reports, shows the median home sale price was $444,500 in June, which is a 8.41 percent increase over the last year and a 7.11 percent increase from May.

According to the data, median listing prices for homes in Suffolk have increased by $30,000 from May to June while Nassau homes have increased by $25,000.

The total number of Long Island residential properties on the market in June was 17,099, making the available residential inventory 11.33 percent lower than a year ago. In June 2016, the available residential inventory was at 19,284 MLSLI reports.

In Suffolk, 1,533 homes were sold in June, a 3.5 percent decrease since June 2016. The median sale for homes sold in Suffolk County went from $340,000 in June 2016 to $365,000 in June 2017, a 7.4 percent increase, and a $30,000 increase from May where the median price for homes sold was $335,000.

In Nassau, 1,243 homes were sold in June, a 3.3 percent decrease since June 2016. The median price for homes sold in Nassau in June was $505,000, a 5.7 percent increase from last year and a $25,000 increase from May where the median price for homes sold was $480,000.

See latest monthly reports on real estate market trends in Nassau, Suffolk and Queens county.
July 2017 Market Update for Nassau County
July 2017 Market Update for Suffolk County
July 2017 Market Update for Queens County

Originally published @ Patch.com

Related posts

Leave a Comment