From Long Island Business News:
The prices of Long Island homes dropped for the second straight month in October.
The median price of closed home sales in Nassau County last month was $650,000, down from the $661,500 median price from September and the lowest since June, according to numbers from OneKey MLS.
In Suffolk County, the median price of closed home sales last month was $520,000, slightly lower than the $525,000 median price recorded in September and also the lowest since June.
However, the median prices in both counties are still significantly higher than a year ago. The median price of closed home sales in Nassau last month was 10.5 percent higher than the $588,000 median price from October 2020.
The $520,000 median price in Suffolk last month was up 10.6 percent from the $470,000 median price recorded a year ago.
Meanwhile, home sales remained brisk in October.
There were 2,976 homes contracted for sale in Nassau and Suffolk counties in October, that’s up slightly from the 2,931 Long Island homes contracted for sale in September, but down 22.4 percent from the 3,831 homes contracted for sale in Oct. 2020.
Pending home sales in Nassau climbed 10.6 percent from the previous month, rising from 1,239 in September to 1,373 last month. However, pending home sales in Suffolk saw a 5.3 percent month-to-month decline, falling from 1,692 in September to 1,603 last month.