A new report shows Long Island home prices are up, but there are not many homes on the market.
The median home price in Suffolk County was $405,000 last month, up 5.2% from last October. In Nassau, home prices increased by 2.4% to $537,500. That’s according to a report by the Multiple Listing Service of Long Island.
Inventory is still low, with only about 12,000 homes listed across the island.
Low mortgage rates also contribute to the increased home prices.
