The Nassau County real estate market in November 2023 showed signs of continued stability with some positive growth:
Key trends:
- Median sale price: Increased 6.8% year-over-year to $710,000, indicating sustained value growth.
- Median listing price: Up 7.6% year-over-year to $769,000. This suggests sellers are confident in the market.
- Closed sales: Declined slightly compared to October 2023, with 789 transactions reported.
- Pending sales: Remained relatively steady at 765.
- Days on market: Continued to show a downward trend, indicating faster sales.
- Selling conditions: Favorable for sellers, with homes selling at or near asking prices (sale-to-list ratio of 100%).
Additional insights:
- Inventory: Lower compared to previous months, particularly for smaller homes (1-3 bedrooms), indicating strong demand.
- Price per square foot: Increased steadily, reaching $454 for listings and $419 for sold homes.
- Market: Considered a seller’s market due to limited inventory and high demand.
Here are some resources for further details:
- Nassau County, NY 2023 Housing Market: https://www.realtor.com/realestateandhomes-search/Nassau-County_NY/overview
- November 2023 Nassau County Market Update: http://links.mlsstratus.com/actrep/Current/Nassau.pdf
- Nassau County, New York Housing Market Report November 2023: https://www.rockethomes.com/new-york
Do you have any specific questions about the Nassau County real estate market or Long Island areas you’d like to learn more about? Call us at 1-800-222-NEAL or fill out the contact form.
