If you’ve been thinking about selling your home, the latest numbers are worth paying attention to.
Long Island is still dealing with a shortage of homes for sale, and buyers haven’t disappeared.
In May, the median single-family sale price reached $890,000 in Nassau County, up 9.9% from the prior year, while inventory actually declined 7.3%. In Suffolk County, the median reached $718,250, up 4.1%, while inventory declined 8.7%.
The latest June data continued to show strength. OneKey MLS reported Nassau’s median single-family sale price at $875,000, up 2.9% year over year, with buyer activity increasing across the broader New York metro market.
And looking at Long Island more broadly, Redfin’s latest data puts the median sale price around $780,000, up 4.7% year over year, with homes selling for an average of about 1.9% above asking price.
So what does this mean if you own a home on Long Island?
You may be sitting on considerably more equity than you realize.
But there’s an important distinction: this isn’t a market where I’d recommend simply picking a high number, putting a sign on the lawn, and hoping for the best.
Buyers are paying attention.
The homes that are priced correctly, presented properly, and marketed aggressively are the ones positioned to generate competition.
And that’s where my background is a little different.
I’m not only a Licensed Real Estate Salesperson with Long Island Home Properties. I’m also a Professional Certified Marketer with decades of experience in marketing and an entrepreneur with experience in home construction and renovation.
When I list a home, I look at it as a marketing campaign, not just another MLS listing.
If you’ve wondered:
“What could my house actually sell for right now?”
Let’s find out.
No pressure. No obligation. I’ll take a look at the current market, recent comparable sales, your home’s condition and features, and give you a realistic assessment of where I believe it could sell today.
Thomas J. Morganelli
Licensed Real Estate Salesperson
Long Island Home Properties
212-470-8247
TomMorganelli.com