Buying and selling real estate in the communities of Long Island
Report: Long Island home sales up, inventory down
The cruelest month was kind to Long Island real estate as April year-over-year housing sales increased by 21.7 percent to 1,549, according to a report released Friday by the Multiple Listing Service of Long Island.
Nassau County gained the most sales, growing by 24 percent to 764 for completed sales. Pending sales increased to 1,123, a 14.4 percent rise. Suffolk County sales rose to 780 compared to 657, an 18.7 percent bump. Pending sales in Long Island’s eastern county increased even more, climbing by 24 percent to 1,305.
The positive sales numbers continue a trend of rising transactions. Compared to the previous year, residential homes sales volume has increased in all but two of the last 12 months in Nassau and all but one month in Suffolk.
Home prices were either flat or slightly positive in April. The median price for a home sold in April fell by 0.3 to $390,000 in Nassau compared to a year ago. In Suffolk the median rose by $15,000 to $300,000, a 5.3 percent increase compared to a year ago.
Residential inventory—the number of homes available for sale—fell by 23.3 percent to 22,940 in the combined area of Nassau, Suffolk and Queens.
Tags: LI housing market