Real Estate Market Update – June 2013

Real Estate Market Update – June 2013

The closed median home price in June 2013 for Long Island, which includes Nassau, Suffolk, and Queens’s housing data, was $380,000. 

As the market continues to recover, the closed median home price is 7% higher than a year ago. Nassau County reported a $425,000 closed median home price in June compared to $400,000 in June 2012. 

Suffolk County reported a closed median price of $340,000 representing a 5.8% increase over last year and Queens reported a closed median home price of $380,000, which is 10.1% higher than last year.

Available residential inventory is stable and is almost unchanged from May.

Current year over year housing data indicates a considerable increase in Long Island home prices and sales activity. 

Additionally, contracted sales activity has increased by double digits consecutively for the past six months as homebuyers have been taking advantage of excellent housing affordability conditions...