LI Real Estate Market Remains Hot To Start 2020

The Multiple Listing Service of Long Island just released sale data for January, and so far 2020 is off to a good start for the island's real estate market.

January 2020 saw increased sale prices and number of homes sold over January 2019 in both Nassau and Suffolk counties, the data shows. It's a continuation of the steady growth of the Long Island housing market over the last few years.

In Nassau County, the median sale price last month was $532,250, which was 1.4 percent higher than last January's median price of $525,000. However, it was slightly lower than December's median price of $539,125.

There was also a modest increase in the number of houses sold in Nassau from year to year, going from 951 last January to 956 this year — a 0.5 percent increase.

In Suffolk County, the median sale price saw a much larger increase, going from $380,000 in January 2019 to $401,750 this year — a 5.7 percent increase.

The number of units sold also increased year over year. This January saw 1,340 homes sold, compared to last year's 1,207.

Both Nassau and Suffolk counties saw fewer homes sold in January than December, though. However, that's in line with the usual slowdown in real estate sales in the winter months.