The median price of Nassau County properties dropped $5,000 in September from the previous month, according to housing data provided by OneKey Multiple Listing Service.
The change represents the first monthly drop in 2021.
Residential, condo and co-op properties in the county had a median price of $665,000 in September compared with $670,000 in August. However, September was still 12.9 percent higher than September of last year, when homes closed at $589,000.
Single and multifamily properties had a median price of $685,000 compared with $599,500 last year.
The median price of co-ops sold in Nassau increased to $276,500 in September from $260,000 in September 2020. The median price of condominium properties sold was $699,000, an increase from $627,500 in the same month of last year.
On Long Island and in Queens, the median price for all homes sold was $600,000, a roughly 13 percent increase from last year’s $530,000. Monthly closed sales activity saw a sharp decline from August’s 4,445 to 3,846 in September, a 13.50 percent decrease.
Jim Speer, CEO of OneKey MLS, told Newsday the peak of the local housing market may be soon approaching.
“With low inventory, we would continue to see prices sneak up, which they’re not,” Speer said. “We might have reached near the top of what people are willing to pay.”
For September, Suffolk County residential properties had a median price of $525,000, an increase from $465,000 for the same month in 2020.
In Queens, the median price was $700,000, a roughly 11 percent increase from $629,000 last year.
