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LI home sales activity rises in December
Long Island’s housing market picked up steam last month, as many home sellers and buyers recovered from the immediate aftermath of superstorm Sandy.
Suffolk County saw a jump in real estate activity, with 910 homes changing hands last month, up 11.4 percent compared to the previous December, according to a report released Monday by the Multiple Listing Service of Long Island. In Nassau County, 800 homes were sold last month, up 7 percent compared to the previous December.
Home sale prices rose in both counties in December, although the prices of Nassau County homes going into contract dropped, the report said.
The number of homes going into contract rose by 3.3 percent year-over-year in Nassau, to 660. Pending sales activity fell by 1.3 percent year-over-year in Suffolk, to 676.
The amount of activity was a marked change from November, right after Sandy’s devastating hit to the Island on Oct. 29. That month, the number of Nassau County homes going into contract fell 18 percent compared to the same month in 2011. Suffolk County saw a more moderate drop in activity after Sandy, with a 5 percent year-over-year decline in pending sales.
Homes in Nassau County sold for a median price of $400,000, up 5.3 percent from December 2011. The median home price in Suffolk County was $314,500, a year-over-year increase of 4.8 percent. The median is the midpoint, meaning half were more and half were less.
The median price of a Nassau County home going into contract fell last month to $379,000, a 2.8 percent decline compared to the previous December. In Suffolk County, the median in-contract price rose by 5.1 percent year-over-year, to $310,000.