T
he June 2017 closed median home price for Long Island, which includes Nassau, Suffolk, and Queens housing data, was $444,500, representing an 8.4% increase over last year.
Nassau County reported a $505,000 closed median home price in June representing a 5.7% increase over $477,750 reported by MLSLI last year.
Suffolk County reported a closed median price of $365,000, which represents a 4.3% increase over a year ago.
Queens reported a closed median home price of $530,000, representing an increase of 14% over $465,000 reported in June 2016.
The total number of Long Island residential inventory in June 2017 was 17,099 representing an 11.3% decrease over last June.
As we all know, it is fierce out there and these statistics prove why. The numbers indicate what we see happening in the field, prices are rising, in large measure due to a lack of inventory and the ensuing competition for what is on the market. We see that Queens is now skyrocketing in price and good inventory is scarce in our market.
At this time, buyers must be prepared to be mortgage ready, bid quickly and aggressively. We advise our clients that they may lose some houses before they get into contract. This will happen even though we may be working furiously for them. No one can hesitate in this market!
Sellers: If you would like to list your present residence with us, we can feature it on our popular websites.
Buyers: Inventory is low, call LAWRENCE AND SHEILA AGRANOFF to ALERT you as homes becomes available in your area of chocie, and we can represent you in the sale.
Call our Cell: 631-805-4400
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All data is deemed reliable but is not guaranteed accurate Sale May Be Subject To Term & Conditions Of An Offering Plan. DISCLAIMER: Lawrence & Sheila disclaims liability for any damages or losses, direct or indirect that may result from use or reliance on information contained in the blog or for the accuracy of comments or opinions of visitors to the blogs.
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