It’s a Sellers Market on Long Island – Home prices are up 8.7%

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If you have been thinking about selling your home, now is the time! The Long Island housing market is alive and well.

Home prices are up 8.7%!

According to the Multiple Listing Service of Long Island, the January 2017 closed median home price for Long Island, which includes Nassau, Suffolk, and Queens housing data, was $420,000 representing an 8.7% increase over last year.

Also, the total amount of residential inventory is down almost 20%. Meaning, there are 20% less homes on the market than there were last year. It's a classic case of supply and demand. There is a higher demand for homes, than there are actual homes for sale.

Long Island home buyers are out, mortgage rates are still low and inventory is shrinking…making it a great time to sell.

If you are thinking about selling your home, give us a call at 516-575-7500. One of our local professional real estate agents will help you find out what your home is worth in today's market and help you decide if now is the time to sell!

Visit us at www.crrli.com.

Joe Moshe
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Joe Moshe

Joe Moshe is the Broker/Owner of Charles Rutenberg Realty Long Island, offering 100% commission to Agents. With over 1000 agents, it's one of the fastest growing, most progressive real estate brokerages on Long Island.
Joe Moshe
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