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Median price rises for Nassau homes in contract

The future for the Long Island and Queens housing markets looks mixed, according to the median prices for homes under contract in July.

In Nassau County, that figure rose 2.5 percent to $410,000 compared to the same period last year, according to the Multiple Listing Service of Long Island. But in Suffolk County and Queens, the news was not as good.

The median price of homes under contract in Suffolk county slipped 3 percent to $325,000 last month, according to the Multiple Listing Service of Long Island. And Queens also saw a decrease of 2.8 percent in the contracted median price, falling to $350,000, the organization said.

The Multiple Listing Service of Long Island describes contracted home prices as a forward-looking indicator because it represents the deals that have been written but not yet closed.

 

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