Before Clovid-19 Long Island Real Estate Market Report
Before Clovid-19 Long Island Real Estate Market Report – February 2020
Previous Blog: Your Homeownership dream will prevail the Coronavirus
Since the Coronavirus has life at a standstill I tend to ponder, how will this impact our future, individually and collectively. A question I often come across is how will this impact Long Island Real Estate market. Since it will take a few months to analyze the housing trends I decided to put up a before Clovid-19 picture, which is the real estate data for February 2020. Technically it’s not before Clovid-19 but it’s before Clovid-19 hit Long Island, New York, hard.
The Long Island Real Estate market trends, before Clovid-19:
Before Clovid-19, February 2020, Long Island Real Estate median home price, including Nassau, Suffolk, and Queens, was $480,000, showing a nice increase of 6.67% than the prior year, $450,000.
The contract pending median home price, was the same, $480,000, which is 1% higher than January 2020.
Nassau County reported $530,000 median sold home price which was an increase of 5% over the prior year’s number of $505,000 reported by MLS Long Island.
Suffolk County reported a closed median price of $405,000, which represents an 8% increase over $375,000 reported a year ago.
Queens reported a closed median home price of $589,894 representing an increase of 7.8% over $547,250 reported in February 2019.