Long Island home prices up, but coronavirus’ effect remains unclear: report

Home prices were up year-over-year in both Nassau and Suffolk counties last month, but it isn’t clear how they’ll fare amid the growing novel coronavirus outbreak, Newsday reported. Suffolk County homes saw a median price of $405,000 in February, up by 8 percent from the same time last year, the outlet reported, citing data from the Multiple Listing Service of Long Island; Nassau County, meanwhile, saw a median price of $530,000, a five percent increase year-over-year. New contract signings, meanwhile, “jumped by nearly 20 percent in Nassau and 6.3 percent in Suffolk,” according to the outlet. Experts, however, “said it’s too early to tell the long-term effects [COVID-19] might have on the real estate market,” the outlet noted. [Newsday]

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