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.