According to OneKey MLS, the closed median home price for Nassau, Suffolk and Queens counties rose to $580,000, representing a 18.1% increase over last year's reported price.
The total number of residential listings in May 2021 on the MLS were 12,759, which represents a decrease of 13.6% over the past year.
However, there is some positive news as inventory in May was up 520 units from April 2021 (12,759 vs 12,239). As we head into the summer months, this may be a good sign that more supply is on the way.
Source: https://www.onekeymlsny.com/market-statistics/
Home Price Appreciation Is as Simple as Supply and Demand
