November’s median home prices tick up over 2017, but uncertainty abounds

The median home price for Long Island last month was $457,500, representing a 5.2 percent increase over the same time last year, according to data put out by the Multiple Listing Service of Long Island, which recently issued a similar report for October that includes numbers for Nassau, Suffolk and Queens counties. Nassau closed November with a median home price of $525,000, a 7.8 percent increase over the $487,000 reported for November 2017. Suffolk ended November with a median price of $380,000, representing a 7 percent increase over November 2017. There were 16,483 houses for sale this past November, 11.2 percent more than the same time last year. Despite the increases, Long Island Business News reported that sales remained mostly flat, while Newsday noted that rising inventory could foreshadow a housing slowdown that is already affecting neighboring New York City. [MLSLI]