Richard Stein – Realtor®, Douglas Elliman, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

Long Island home prices jump in Nassau, fall in Suffolk

By Maura McDermott

A house for sale on Jan. 26, 2016.

A house for sale on Jan. 26, 2016. Local buyers face a slim supply of listings. (Credit: AP / John Bazemore)

Long Island home prices jumped in Nassau County and fell in Suffolk County last month, a new report shows.

The median closed sale price in Nassau was $480,000 in May, up 6.7 percent from a year earlier, the Multiple Listing Service of Long Island reported Thursday.

In Suffolk, the median price dropped 1.4 percent from a year earlier, to $335,000.

In both counties, buyers face a slim supply of listings. The number of homes for sale fell year-over-year by 18 percent in Nassau, where just under 5,200 were on the market, and 16 percent in Suffolk, where brokers listed 7,639 homes.

“Inventory is continuing to shrink…………………

Full story at Newsday

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