Once again,the Long Island market has shown slow steady growth when compared to February 2015. With inventories so low, one can expect continued positive growth.
According to the Multiple Listing Service of Long Island:
“The February 2016 closed median home price for Long Island, which includes Nassau, Suffolk, and Queens’ housing data, was $385,000 representing a 4.1% increase over last year. Nassau County reported a $440,000 closed median home price in January representing a 7.7% increase over $408,500 reported by MLSLI last year. Suffolk County reported a closed median price of $315,000 which represents a 0.9% increase over a year ago. Queens reported a closed median home price of $420,000, which represents a 5% increase over last year.
The total number of Long Island available residential inventory was 17,885 representing a 6.7% decline over last year.”
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