Nassau County saw a “Fall” in median home sales prices during the autumn season, albeit a small one. According to data from Multiple Listing Service of Long Island (MLSLI), prices fell for the third straight month in November to $534,100; that is down approximately 0.2% from October’s number of $535,000. Sales prices hadn’t recovered since peaking in August, when prices were at $553,000. Since August, prices have declined by 3.3%. These declines are likely due to seasonal factors. November’s prices were 1.7% higher than they were 12 months ago, when they were at $525,000.
MLSLI reported that, between August and November, home sales have seen an ebb and flow, with numbers going up and down. During the month of November, only 1,033 homes were sold — which is 20.1% lower than the previous month, when 1,293 sales were completed. October home sales were higher than in September (1,176), but lower than in August, with a year-high 1,386 sales. Since its peak, home sales in Nassau have dropped 25.5%. November’s sales figures were also lower than the previous November, according to MLSLI, when 1,139 closings took place; that is 9.3% lower than November of 2018.
Suffolk County followed Nassau’s trend, with median home sales prices falling for the third month in a row. Suffolk’s price of $400,000 in November was 1.7% lower than it was in October at $407,000, based on MLSLI data. July and August saw Suffolk prices peak at $415,000; since then, prices slipped 3.6%. But, compared to last November, sales prices were stronger, a 6.4% increase over the November 2018 price of $376,000.
Suffolk home sales also had a seesaw pattern as increases and declines in sales alternated from month to month. MLSLI reported that 1,338 homes were sold in November, which was 14.9% lower than in October (1,573), which, in turn, was higher than in September (1,481), but lower than August’s peak sales number of 1,851. That means that, overall, Suffolk has seen a 27.7% drop in home sales since August. In addition, last month’s numbers were worse than the prior November’s. There were 1,443 sales completed last year, a 7.3% drop from the previous year.
If you are interested in buying a house, please contact the Agents at Charles Rutenberg Realty, Inc. We work with a network of lenders who can help you secure a mortgage and have more than 1,000 Licensed Real Estate Professionals who can also help you find the home of your dreams — within budget. For more information, call (516) 575-7500 or visit www.crrli.com.
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