As weather warms and the region heads into what is traditionally a hotter real estate market, Nassau County single-family home prices and new listing rose, but the number of closed sales tumbled.

Nassau County median sales prices for single-family homes in April jumped 7.8 % to $852,000, although the percent of original list price received fell 0.9% to 99.2%.

New listings jumped 12.9% to 1,362, in a big increase, although total inventory of homes for sale dropped 1.3% to 2,133, as closed sales plummeted 13.4% to 478 and days on the market rose 13.3% to 51.

The median sales price for condos soared in the double digits, rising 10.5% to $779,000, still short of but close to single-family home prices. The percent of the original list price rose 2.2% to 100.3%, well above the asking price.

Condo new listings rose 7.5% to 86, but inventory also fell 12% to 183, boosting prices with fewer available. Condos’ days on the market dropped 44.4% to 40 as closed sales fell 23.2% to 53.

Co-op prices, however, went against the trend of rising, dropping 1.3% to $375,000, even as new listings rose 3.2% to 97, and inventory rose 6.8% to 221. The percent of the original list price received slipped 2.2% to 98.6%. Days on the market until sale rose 14% to 65 as it took longer to close deals, while closed sales rose 9.1% to 60.

A wide range of housing prices are continuing to rise in the New York metro area, but the number of deals is going down. Median sales prices for all properties in the New York metro area rose 5.4% year-over-year as of April to $680,000, according to OneKey MLS.

Single-family median sales prices increased 5.7% to $760,000 in the New York metro area, while condo prices jumped 9% to $545,000, and co-op prices rose 5.4% to $280,000.

But the second side of this coin was a drop in the number of deals being closedin the region, in part amid a lower inventory. Closed sales of all properties in the New York metro area tumbled 8.7% to 3,077, according to OneKey MLS.

Meanwhile, single-family closed sales were down nearly double digits, falling 9.2% to 2,151 in the New York metro area, as condo closed sales slipped 7.1% to 459 and co-op closed sales fell 7.9% to 467.

Source: LI Press