How does Nassau County compare?
Single family home sales for the month of March were up 28.6% over last year. Cash sales were up 16% and pending sales up 14%. Contrary to last years trend, new homes listed (inventory) rose 23.9% over 2013 and the months supply of inventory (turnover) dropped from 9.0 months to 6.8 months. The median days a home stays on the market also fell 17% from 74 days to 61 days.
Of the 90 closed sales in March, the majority fell in the $300,000 - $399,999 price range. The average sale price compared to March 2013 stayed very close to the same at $250,226 versus $247,815.
With a 14% increase in pending sales and improved weather, these positive trends should continue throughout the 2nd quarter.