Nassau median home prices rose 6.7% last month

The median price of a home sold last month in Suffolk County dropped 4.9 percent compared to median prices a year ago — but the news is better in Nassau, where median home prices are 6.7 percent higher than in August 2009, a real estate organization said Monday.

Overall on Long Island, median prices for homes sold in August sank 1.3 percent compared to the same month last year, the Multiple Listing Service said.

The median price for a Long Island home sold in August was $380,000, compared to $385,000 in August 2009, the listing service said.

The service used data from 2,098 sales in August and 2,543 sales in August 2009.
"As expected, the number of sales has lessened in July and August as a result of the expiration of the tax credit on June 30," an MLSLI news release said. A federal program gave an $8,000 tax credit for first-time home buyers and a $6,500 tax credit for repeat home buyers.

Nassau County reported 783 sales in August and a median home price of $445,000.

And Suffolk County reported 778 sales in August with a reported $328,250 median home price.

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