Will the housing market go down in Suffolk County?
The number of homes for sale in Suffolk County, NY decreased by 3.3% between August 2022 and September 2022. In September 2022, listings were on the market for 40 days. During the same period, the median list price in this real estate market was $539,262.
Are home prices dropping on Long Island?
Prices of Long Island homes fell in August, after several consecutive months of gains. The median price of closed home sales in Nassau County last month was $700,500, down 2.7 percent from the $720,000 median recorded in July. The monthly decline in price was the first in eight months.
Is Long Island a buyers or sellers market?
Is Long Island Becoming a Buyer’s Market? In my opinion, it is still a seller’s market – but while we were moving at 100 miles per hour, at least for now, we have slowed down to 50mph. I think houses will continue to appreciate over the next few years at a much more “normal” pace of appreciation.