Where homes sold for $500,000 or less in Nassau, Suffolk
A home under contract in June in Patchogue, which was among the communities with the most closed sales under $500,000 this year. Credit: Newsday/Steve Pfost
Few Long Island homebuyers have been able to find a home for $500,000 or less this year, according to data released by OneKey MLS.
Of more than 15,000 reported sales of single-family homes, roughly 2,600 closed at or below that price point. That's roughly 17% of all closings reported by the multiple listing service.
Meanwhile, November's median sale price of a single-family home was $775,000 in Nassau County and $651,000 in Suffolk, according to data released Monday and reported by Newsday.
Inventory also remained low. At the end of November, 4,078 single-family homes were on the market — down 13% from last year, OneKey reported.
Where can a buyer find a home for $500,000 or less on Long Island?
According to a Newsday analysis of closed sales this year from across 238 communities, just 31 of those areas reported sales at or below the $500,000 mark. In Nassau, Hempstead, Oyster Bay, Wantagh and Syosset reported the most single-family home sales in that price range. East Quogue, East Islip, Patchogue and West Babylon were among the top Suffolk communities, according to the data.
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