The costs of properties offered on Lengthy Island final month climbed to new heights amid robust gross sales and slowly rising stock.
The median worth of closed house gross sales in Nassau County final month was an all-time excessive of $630,000, that’s $30,000 larger than the earlier month and 13.2 p.c greater than the $556,750 median worth of a 12 months in the past, in response to numbers from OneKey MLS.
In Suffolk County, the median worth of closed house gross sales in April was $480,000, matching the earlier report excessive set in December. April’s median worth in Suffolk was $10,000 greater than the earlier month and 12.9 p.c larger than the $425,000 median worth recorded in April 2020.
The housing market right here continued its brisk tempo in April. Pending Lengthy Island house gross sales rose final month, together with a rise within the variety of properties listed on the market.
There have been 3,339 Lengthy Island properties contracted on the market final month, up barely from the three,322 properties contracted on the market in March.
April’s pending house gross sales had been greater than triple the 1,079 pending house gross sales from April 2020, when the true property trade was within the throes of the state’s pandemic lockdown. Final month’s pending house gross sales had been up practically 3.7 p.c from the three,214 pending gross sales recorded in April 2019.
Stock, which had been at report low ranges, is slowly rising. There have been 6,569 Lengthy Island properties—3,425 in Nassau and three,144 in Suffolk–listed on the market with OneKey MLS on the finish of April, a 9.3 p.c improve from the 6,008 properties that had been listed on the market on the finish of March.
Nonetheless, stock remains to be traditionally low. The present variety of properties listed on the market in Nassau and Suffolk is 30.6 p.c fewer than the 9,470 properties that had been listed on the market on the finish of April 2020 and practically half the 12,472 properties that had been listed on the market on the finish of April 2019.
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