2015 Real Estate Market Update Year End Report

The Multiple Listing Service of Long Island, Inc. (MLSLI) released the 2015 year end housing figures for Long Island, which includes Nassau, Suffolk, and Queens Counties.   MLSLI reported a $390,000 closed median home price for Long Island in 2015.  The closed median home price represents a 5.1 percent increase over $370,900 reported for 2014. 

Suffolk County reported a year ending closed median home price of $330,000, which is 3.4 percent greater than $319,150 reported for 2014.  In Nassau County, the 2015 closed median price for a home was $438,000, representing a 3.1 percent increase from 2014.  Queens County experienced the largest increase in terms of 2015 closed median home prices with a reported figure of $418,000, which is 7.7 percent greater than 2014.

Long Island closed sales activity reported a total of 34,237, which is a 6.2 percent increase from 2014.  Long Island contracted sales activity in 2015 had a 12.6 percent increase from 2014, with a total of 37,367.

The 2015 Market Update Year End report is available at LIRealtor.com under the Research and Data section of the Member Area.