October 2014 Housing Stats

The closed median home price in October 2014 for Long Island, which includes Nassau, Suffolk, and Queens's housing data, was $375,000 representing a 1.4% increase over last year. Nassau County reported a $420,000 closed median home price in October, representing a slight increase over $419,500 reported by MLSLI last year. Suffolk County reported a closed median price of $315,000 representing a 4.5% decrease over last October. Queens reported a closed median home price of $419,000, representing a 14.8% year over year increase.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

July 2014 Housing Stats

The closed median home price in July 2014 for Long Island, which includes Nassau, Suffolk, and Queens's housing data, was $384,150, representing a 1.1% increase over last year. Nassau County reported a $439,000 closed median home price in July, representing a slight increase over $435,000 reported by MLSLI last year. Suffolk County reported a closed median price of $335,000 representing a less than 1% increase over last July and Queens reported a closed median home price of $386,336, up 4.4% over last July.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

June 2014 Housing Stats

The closed median home price in June 2014 for Long Island, which includes Nassau, Suffolk, and Queens's housing data, was $379,000, representing a slight decrease over last year. Nassau County reported a $430,000 closed median home price in June, representing a 1.2% increase over $425,000 reported by MLSLI last June. Suffolk County reported a closed median price of $330,000 representing a 2.9% decrease over last year while Queens reported a closed median home price of$380,000, down from $385,000 reported last June.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

May 2014 Housing Stats

The closed median home price in May 2014 for Long Island, which includes Nassau, Suffolk, and Queens's housing data, was $360,000, representing a 2.9% increase over last year. Nassau County reported a $410,000 closed median home price in May, representing a 5.7% increase over $387,750 reported by MLSLI last May. Suffolk County reported a closed median price of $304,000 representing a decrease of 3.5% over last year while Queens reported a closed median home price of $370,000, up slightly from $368,000 reported last year.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

April Housing Stats

Despite April's less than ideal weather, buyers continued to chase housing value. Contract sales activity was off slightly compared to last year, but 11.1% higher than in March. Median home prices were on a par with last April.

The closed median home price in April 2014 for Long Island, which includes Nassau, Suffolk, and Queens's housing data, was $359,000, representing a 2.6% increase over last year. Nassau County reported a $410,000 closed median home price in April, representing a 5.7% increase over $388,000 reported by MLSLI last April. Suffolk County reported a closed median price of $301,000 representing a slight increase over last year while Queens reported a closed median home price of $370,000, up 2.8% from $360,000 reported last year.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

March 2014 Housing Stats

The closed median home price in March 2014 for Long Island, which includes Nassau, Suffolk, and Queens's housing data, was $345,000, representing a less than 1% increase over last year. Nassau County reported a $387,000 closed median home price in March, representing a 1.8% increase over $380,000 reported by MLSLI last March. Suffolk County reported a closed median price of $305,000 representing a 1.7% increase over last year while Queens reported a closed median home price of $370,000, up 4.2% from $355,000 reported last year.

Available inventory is edging up from the unusually low levels reported by MLSLI in December, January and February. The rough winter weather we experienced this year has caused many would be sellers to delay listing their property until the now. With the arrival of warmer weather we expect an influx of housing inventory and together with the pent up housing demand, predict that the stage is set for a very active spring market.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

Homeownership’s Impact on Net Worth

As reported by our friends at KCM Blog: Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. A study by the Federal Reserve formally answered this question.

Report Click Here

Some of the findings revealed in their report: The average American family has a net worth of $77,300. Of that net worth, 61.4% ($47,500) of it is in home equity. A homeowner's net worth is over thirty times greater than that of a renter. The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100.

February 2014 Housing Stats

The closed median home price in February 2014 for Long Island, which includes Nassau, Suffolk, and Queens's housing data, was $350,000, representing a 3.8% increase over last year. Nassau County reported a $397,500 closed median home price in February, representing a 4.6% increase over $380,000 reported by MLSLI last February. Suffolk County reported a closed median price of $303,500 representing a 2.4% increase over last year while Queens reported a closed median home price of $373,750, up 13.6% from $329,000 reported last year.

The severe winter weather our area experienced in January and February has slowed down the pace of home sales. Contracted sales activity was off significantly from last February while closed sales transactions were close to the same as a year ago. As the weather begins to improve and we approach the spring selling season, we expect to see the pace of sales activity pick up and return to normal.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

Long Island Housing Data for November

As reported by MLSLI: The closed median home price in November 2013 for Long Island, which includes Nassau, Suffolk,and Queens's housing data, was $371,000, representing a 3.6% increase over last year. Nassau County reported a $418,000 closed median home price in November, representing a 5.8% increase over last November. Suffolk County reported a closed median price of $318,500 representing a1.8% increase over last year and Queens reported a closed median home price of $385,000, which is 1.3% higher than $380,000 reported in November 2012.p>

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

Why You Should Consider Listing Your Home Over the Holidays

The holiday season can bring many stresses of its own without adding a home sale to the list. This can keep many sellers on the sidelines or send them pulling their houses off the market until the new year rings in.

But contrary to what you may think, this time of year can actually be a fantastic sweet spot for sellers. Holiday buyers are serious and motivated. Consumer confidence is higher than at any other time of year. And relocating families tend to have more time and reason to shop for a new home over the holidays.

Perhaps the biggest compelling reason the holidays are a good time to list your home is the simple fact that there are fewer homes on the market at this time of year, which means less competition.

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