Long Island Home Prices Skyrocket In June: MLSLI

Median home sale prices in Suffolk are the highest they’ve been over the past 24 months while Nassau was just $500 short of breaking records, according to Multiple Listing Service of Long Island Inc.’s recently released report for the month of June.

The Long Island-wide data, which includes Queens in MLSLI reports, shows the median home sale price was $455,000 in June, which is a 1.2 percent increase from May and a 3.4 percent increase over the last year.

The total number of Long Island residential properties on the market in June was 17,159, making the available residential inventory just .01 percent lower than a year ago. In May, the available residential inventory was at 16,516, MLSLI reports.

Nassau County

In Nassau, there were 1,262 homes sold in June, which is a 4.4 percent decrease from a year ago and a 283 increase from May where the number of homes sold was 979. June had the highest number of homes sold in 2018. Only August 2017 and June 2017 saw more homes sold.

The median price for homes sold in Nassau in June was $519,500, which is a 3.9 percent increase from last year and a $2,500 increase from May where the median price for homes sold was $517,000. The last time prices were this high was in July 2017 at $520,000, which was the highest recorded median price for homes sold in Nassau over the past 24 months.

Suffolk County

June saw the highest number of homes sold in Suffolk since September 2017. In Suffolk, 1,587 homes were sold in June, which is 2.2 percent decrease from a year ago and a 210 increase from May where the number of homes sold was 1,377.

The median price for homes sold in Suffolk in June was $376,000, a 3.7 percent increase from last year and a $8,500 increase from May, where the median price for homes sold was $367,500. June saw the highest median price for home sold over the past 24 months, which is as far back as MLSLI's recorded history goes in the report.

Image of 403 Links Drive in Roslyn via Realtor.com