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Real Estate Market Update
Date: 6/10/2013

The closed median home price in May 2013 for Long Island, which includes Nassau, Suffolk, and Queens’s housing data, was $350,000. The closed median home price is equal to what was reported one year ago, and is unchanged from last month as well. Nassau County reported a $423,500 closed median home price in May compared to $405,000 last May. Suffolk County reported a closed median price of $315,000 representing a 4.1% increase over last year and Queens reported a closed median home price of $361,000, which is 3.1% higher than $350,000 reported in May 2012.

Available inventory has ticked up slightly from the month prior, despite strong contracted activity, however available residential inventory continues to lag compared to the year prior.

“Booming pending sales activity across Long Island and Queens is the market story this month. In May, we saw a 24% increase over last year’s transactions, continuing to support the fact that our market is well under recovery. Whether you are a first time buyer, or trade up buyer, the favorable housing affordability conditions that take into account pricing, inventory, and financing, have aligned to create near perfect home buying conditions.” said Joseph E. Mottola, CEO MLSLI.

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A Great professional Location in the Historic District of Amityville

 

Offered at $249,000

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