From ABC 7:
The median home selling price on Long Island rose by at least $73,000 throughout the last year, according to broker listing database OneKey MLS, due to high buyer demand and low inventory of homes.
“It’s a great time to be a seller,” said real estate agent Christine Tabacco-Weber, with Cold Spring Harbor-based Lucky to Live Here Realty. “It’s a really tough time to be a buyer.”
According to OneKey MLS, the median home sale price in Suffolk County in February 2020 was $402,444, compared to $475,000 in February 2021.
In Nassau County, the median home sale price in February 2020 was $525,000, compared to $600,000 in February 2021, an increase of $75,000.
At the same time, inventory has dropped significantly since this time last year, creating all-out bidding wars between buyers.
She said buyers are paying for seller’s moving costs, closing costs, and even are offering sellers to live in the house by paying rent or staying there completely free for a certain period of time.
“If you want to leave New York, this is the time,” she said. “Your house will probably sell in a weekend.”