Nassau, Suffolk Home Sale Prices Heading In Opposite Directions​: MLSLI​

Sale prices for Nassau County homes have increased over the past year while Suffolk County home prices have decreased, according to a new report from the Multiple Listing Service of Long Island.

The Long Island-wide data, which includes Queens in MLSLI reports, shows the median home sale price was $415,000 in May, which is a 4.40 percent increase over the last year and a 2.47 percent increase from April.

According to the data, the median sale price in Nassau County for May, $480,000, is the highest it has been in a year. Comparatively, home sale prices in Suffolk declined year-over-year in May, when the median Suffolk home sold for $335,000. Median pending home sale prices in May rose in both counties compared to last year, by 2.2 percent in Suffolk and 7.4 percent in Nassau.

The total number of Long Island residential properties on the market in May was 16,741, making the available residential inventory 14.08 percent lower than a year ago. In May 2016, the available residential inventory was at 19,484, MLSLI reports.

In Suffolk, 1,345 homes were sold in May, a 16.2 percent increase since May 2016. The median sale for homes sold in Suffolk County went from $339,000 in May 2016 to $335,000 in May 2017, a 1.4 percent decrease, and a $5,000 decrease from April where the median price for homes sold was $340,000.

In Nassau, 959 homes were sold in May, a 6.2 percent increase since May 2016. The median price for homes sold in Nassau in May was $480,000, a 6.7 percent increase from last year and a $5,000 increase from April where the median price for homes sold was $475,000.

Months with the lowest and highest number of properties sold over the past year:

Nassau County

• Highest: August 2016 with 1,517 homes sold
• Lowest: April 2017 with 771 homes sold

Suffolk County

• Highest: June 2016 with 1,588 homes sold
• Lowest: February 2017 with 1,017 homes sold

Months with the lowest and highest sold property median listing price last year:

Nassau County

• Highest: May 2017 with a $480,000 median listing price.
• Lowest: February 2017 with a $449,000 median listing price.

Suffolk County

• Highest: August 2016 with a $352,000 median listing price.
• Lowest: March 2017 with a $329,000 median listing price.

Find MLSLI's full report on its website here.

Image of 6 British Colony Road in Northport via Realtor.com