As reported by MLS of Long Island: The July 2012 closed median home price on Long Island, which includes Nassau, Suffolk, and Queens, was $370,000 representing a 2.8% increased in the closed median home price reported the year prior. This is the highest reported closed median home price for Long Island since August 2010 when the median home price was $375,000.
Nassau County reported a closed median home price of $407,000 representing a 1.7% decrease from the prior year.
Suffolk County reported a closed median home price of $325,000 compared to $315,000 reported in July 2011.
Queens reported a closed median home price of $379,000, which is 11% higher than $341,500 reported a year ago.
"The Nassau, Suffolk, Queens housing market continues to show positive signs for buyers and sellers. For the ninth consecutive month, contracted sales have exceeded the prior year indicating an improving level of consumer confidence. Pricing continues to edge upward in the past four months, with relatively stable inventory levels reported in recent months. We would look at the overall market as cautiously progressive." said Joseph E. Mottola, MLSLI CEO.
To see the detailed reports for each county, please click the county name below to view the PDF file.