Home Prices Increase In Nassau While Suffolk Sees Decrease: MLSLI

The Multiple Listing Service of Long Island Inc. recently released its Long Island Housing Data report for the month of January.

The Long Island-wide data, which includes Queens in MLSLI reports, shows the median home sale price was $440,000 in January, which is the same price it was in December. Home prices, however, still saw a 4.8 percent increase over the last year.

The total number of Long Island residential properties on the market in January was 13,350, making the available residential inventory 6.8 percent lower than a year ago. In January 2017, the available residential inventory was at 14,254 MLSLI reports.

Home prices in Nassau and Suffolk counties started to increase in December following a steady decline since August. However, prices went back down in January in Suffolk County, while prices continued to increase in Nassau County.

View each county's stats below:

Nassau County

In Nassau, 906 homes were sold in January, which is a 5.5 percent decrease from a year ago and a 145 decrease from December where the number of homes sold was 1,051. The median price for homes sold in Nassau in January was $503,500, a 6 percent increase from last year and a $7,500 increase from December where the median price for homes sold was $496,000.

Suffolk County

In Suffolk, 1,183 homes were sold in January, which is 5.5 percent increase from a year ago and a 286 decrease from December where the number of homes sold was $1,469. The median price for homes sold in Suffolk in January was $359,00, a 5.9 percent increase from last year and a $4,000 decrease from December, where the median price for homes sold was $363,000.

Image via Realtor.com of 35 Sunview Drive in Glen Cove