Long Island home prices mixed in June

Listen to this article

The median price of pending home sales in Nassau County rose higher in June while falling back in Suffolk County, as compared with the previous month.

The median price of pending Nassau home sales last month was $550,000, an increase of 3.7 percent from the $530,000 median price in May, according to the latest numbers from the Multiple Listing Service of Long Island.

The median price of Suffolk homes contracted for sale in June was $400,000, down 1.2 percent from the $405,000 median price in May.

When compared with last year, prices are up in both counties. The median price of pending home sales in Nassau last month is 3.4 percent higher than in June 2018. In Suffolk the median price of pending home sales last month was 2.6 percent higher than in June 2018.

Home sales were mostly flat, compared with a year ago. There were 3,025 homes contracted for sale in Nassau and Suffolk counties in June 2019, a slight dip from the 3,035 pending home sales recorded in June 2018.

Pending Long Island home sales in May 2019 had seen a 3 percent drop from May 2018, falling from 3,264 in May 2018 to 3,167 in May 2019.

There were 1,324 Nassau homes contracted for sale last month, 1.8 percent fewer than the 1,348 homes contracted for sale in June 2018.

In Suffolk, pending home sales were slightly higher last month with 1,701 homes contracted for sale in June 2019, up 0.8 percent from the 1,687 pending sales in June 2018.

Inventory continues on its upward trend. There were 13,532 homes in Nassau and Suffolk listed for sale with the Multiple Listing Service of Long Island as of the end of June, that’s 10.2 percent more than the 12,274 homes that were listed for sale at the end of June 2018.

Inventory also continues to grow much faster in Nassau than in Suffolk. There were 6,285 Nassau homes listed for sale with MLSLI at the end of June, 13.1 percent more than the 5,567 homes listed for sale at the end of June 2018. Suffolk’s listing inventory rose 1.3 percent, increasing from 7,157 at the end of June 2018 to 7,247 at the end of last month.