Happy New Year. The Nassau County Real Estate market finished 2023 in solid seller’s market territory.
Absorption Rate: Currently, there are only 2.05 months of supply available in the market. This means that demand is high and properties are selling quickly. That is a dramatic 57% drop from the 4.12 months of inventory in November. It remains an excellent time to list your home as competition is low and appropriately priced homes should expect multiple offers. Buyers, act swiftly to secure your dream home!
Available Inventory: The most critical factor impacting home prices is the limited inventory. Currently there are only 1538 homes available for sale in Nassau County. Compare that to the three year high water mark of 9130 in July of 2019. Click here to see currently available homes for sale in Nassau County.
List to Sold Price: The List to Sold Price percentage stands at an impressive 99.9%. This shows that sellers are achieving close to their asking prices, providing confidence and security for both parties involved in a transaction. See the full data in the Nassau County Market here.
Median Days on Market: Properties in Nassau County are moving swiftly, with a median of only 29 days on the market. This quick turnover highlights the high demand for homes and the importance of acting promptly in this market.
Median Sold Price: The median sold price in Nassau County is $720,000. While this number is slightly down from last month’s $726,500, this decrease can be attributed to normal seasonal activity. The 12 month median price increase in Nassau County is $45,000. This figure signifies the value and desirability of properties in our area. Whether you are buying or selling, it is crucial to understand the market dynamics to make informed decisions. Click here to see recently sold Nassau County homes.
Don't miss out on the opportunities available in Nassau County's real estate market! Whether you're a buyer or seller, we are here to guide you through every step of the process and help you achieve your goals. Contact us today to explore the possibilities. An educated client is a happy client.