From LI Business News:
Prices of Long Island homes sold last month rose compared with a year ago, boosted by strong demand and a shrinking supply.
The median price of homes contracted for sale in Nassau County last month was $536,000, up 2.5 percent from the $523,000 median price recorded in Dec. 2018, according to numbers from the Multiple Listing Service of Long Island.
In Suffolk County, the median price of pending home sales last month was $393,500, an increase of 6.4 percent from the $370,000 median price of a year ago.
Pending home sales on Long Island were up by 15.2 percent last month, rising from 1,875 in Dec. 2018 to 2,161 in Dec. 2019.
Inventory has declined year over year. There were 9,370 Long Island homes — 4,519 in Nassau and 5,211 — listed with MLSLI at the end of last month, down nearly 5.9 percent from the 9,954 homes — 4,348 in Nassau and 5,606 in Suffolk — that were listed at the end of Dec. 2018.