Best And Worst Months To Buy A Home On Long Island Last Year

Long Island's median home sale prices last year were highest in August while Nassau and Suffolk counties saw their lowest prices earlier in the year, according to Multiple Listing Service of Long Island Inc.’s recently released report for the month of December.

The Long Island-wide data, which includes Queens in MLSLI reports, shows the median home sale price was $460,000 in December, which is a 1.1 percent increase from November and a 4.55 percent increase from a year ago.

The total number of Long Island residential properties on the market in December was 14,342, making the available residential inventory 12.31 percent higher than a year ago. In November, the available residential inventory was at 16,483, which is 12.99 percent higher, MLSLI reports.

Nassau County

In Nassau, there were 998 homes sold in December, which is a 6.6 percent decrease from a year ago and a 117 numerical decrease from November when the number of homes sold was 1,115.

The median price for homes sold in Nassau in December was $515,000, which is a 4 percent increase from last year and the first time median prices changed in four months. The median price for homes sold in November, October and September was $525,000. Home prices in Nassau peaked in 2018 in August at $549,650 and bottomed in April at $490,000.

Suffolk County

In Suffolk, 1,401 homes were sold in December, which is 6.7 percent decrease from a year ago and a 23 numerical decrease from November when the number of homes sold was 1,424.

The median price for homes sold in Suffolk in December was $380,000, a 5.3 percent increase from the last year and a $5,000 increase from November where the median price for homes sold was $375,000. Similar to Nassau, home prices over the past year peaked in August at $400,000. March saw the lowest median home sale prices at $352,000.

Image via Realtor.com of 6 Surrey Ln in Great Neck