Nassau house inventory falls as prices continue to rise
Kimberly Reyes is passionate about youth sports and has spent the last four years documenting the vibrant athletic culture in Garden City. She has a degree in Sports Journalism from Syracuse University and has previously worked with local youth leagues and non-profits.
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Lower inventory of houses for sale is continuing to push prices upward in Nassau County in a classic case of supply and demand. The median sales price of Nassau County single-family homes rose 2.1% year over year to $860,000 as of September as inventory dwindled, even as condo prices dropped to below $800.000 and co-op prices rose. OneKey MLS data showed that the number of sales of Nassau County single-family homes fell 4.1% to 757 in September from the previous year, as inventory declined 1.7% to 2,318 and new listings tumbled 10.4% to 929. The percentage of asking price for sales rose from 98.9% to 99.8%, consistent with the rise in prices and shrinking inventory, as the days on the market fell 7% to 40%. The prices for Nassau single-family houses rose even though the Federal Reserve raised its benchmark rate by a quarter point on September 16 to a range of 3.75% to 4%, the first such increase since July 2023, according to OneKey MLS. The 30-year fixed-rate mortgage mo