Real LI

Buying and selling real estate in the communities of Long Island

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Long Island home sales, prices down

The volume of homes going into contract jumped

The volume of homes going into contract jumped by 11.3 percent in Nassau County and 10 percent in Suffolk County last month, compared with the previous March, a report said. (Credit: iStock)

The housing market on Long Island remains weak, with home sales and prices down last month, according to a report released Monday.

Nassau County prices fell by 5.2 percent last month compared with the previous March, from $385,000 to $365,000, according to the Multiple Listing Service of Long Island. It was the sixth straight month of price declines in the county, according to the report. The number of Nassau homes sold fell by 4.8 percent, to 620.

In Suffolk County, prices dropped by 0.3 percent, from $300,000 to $299,000, and the number of homes sold fell by 3.5 percent, to 668.

However, the report did contain one sign that the market could be stabilizing, said Jonathan Miller, president of real estate appraiser Miller Samuel, which tracks Long Island prices.

The volume of homes going into contract jumped by 11.3 percent in Nassau County and 10 percent in Suffolk County last month, compared with the previous March, the report said.

The number of contracts signed last month “reflects what's happening on the ground now,” Miller said.

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