The October housing numbers are in. Another month of positive growth. It will be interesting to see if the Federal Reserve raises interest rates and the impact that may have on our local housing market.
The closed median home price in October 2015 for Long Island, which includes Nassau, Suffolk, and Queens’ housing data, was $390,000, representing a 4.9% increase over last year. Nassau County reported a $435,000 closed median home price in October, representing a 4.1% increase over $418,000 reported by MLSLI last year. Suffolk County reported a closed median price of $333,500 which represents a 5.9% increase over a year ago. Queens reported a closed median home price of $424,500, which represents a 2% increase over last year.
The total number of Long Island available residential inventory was 21,397 representing a 5.6% decline over last year.
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