The May 2016 closed median home price for Long Island, which includes Nassau, Suffolk, and Queens’ housing data, was $397,500 representing a 3.8% increase over last year. Nassau County reported a $459,500 closed median home price in May representing a 5.6% increase over $435,000 reported by MLSLI last year. Suffolk County reported a closed median price of $340,000 which represents a 3.3% increase over a year ago. Queens reported a closed median home price of $451,500, which represents a double digit gain of 11.5% over last year.
The total number of Long Island residential inventory was 19,484 representing 14.9% less available listings than a year ago.
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