By Hank Russell
Despite supine sales numbers over the year, median sales prices in Nassau and Suffolk have done nothing but go up.
According to the New York State Association of REALTORSⓇ, Nassau County’s yearly sales went up by only 0.8% last month to 940 from 933 the July of last year. Closings in Suffolk, meanwhile, fell 6.4%, with 1,241 houses being sold. In July 2024, there were 1,326 homes that were bought up.
While sales suffered, home sales prices flourished. NYSAR showed that Nassau’s median home sale price went from $785,000 in July 2024 to $835,000 last month — a 6.4% increase. The median home sales price in Suffolk in July was $680,000, compared to $630,000 last year, up 7.9%.
Both prices are higher than the statewide average, which is $451,000 — a rise of 4.9% over July 2024 ($430,000), according to NYSAR.
There were more new listings in Nassau, based on NYSAR data. Last month, the county had 1,222 new listings — a 10.7% improvement over the previous July, when only 1,104 new homes were listed. However, there were 1.4% fewer homes for sale last month, with 3,659 houses on the roster. In July 2024, there were 3,584 homes available for sale.
Inventory was lower than the state’s, NYSAR said. Supply in Nassau fell by 3.0% year over year last month from 3.3 to 3.2 months. Suffolk’s supply remained unchanged at 3.3 months. Inventory statewide increased in July by 6.1% to 3.5 months; the previous July, it was 3.3 months.