Long Island home sales in October: What sold, what buyers got, what we learned
More than 1,800 homes sold on Long Island last month, according to OneKey MLS. Credit: Elizabeth Sagarin
Fall brings a drop in temperatures and home sales on Long Island, but that doesn’t mean prices are plummeting.
More than 1,800 single-family homes sold last month across Nassau and Suffolk counties, according to data from OneKey MLS, the multiple listing service that covers Long Island.
Of those sales, roughly one in four were over $1 million, data showed, and fewer than one in six were below the $600,000 mark.
Newsday analyzed October’s home sales data. Here’s what we found.
More million-dollar sales
More than 470 homes sold for $1 million or more last month, up from more than 450 closed sales over $1 million in September.
That means more Long Island buyers were subject to the state’s mansion tax. In New York State, buyers paying $1 million or more for their home are responsible for a 1% tax on the price, so the buyer of a $1 million home, for example, has to pay an additional $10,000 on top of closing costs. Experts have said the threshold needs to be increased to account for inflation, Newsday has reported.
Nassau houses that sold were typically older.
Houses that sold in Nassau had a median build year of 1953, while Suffolk homes were typically built in 1966. The median for all sales was 1959.
Who had the most sales?
In Nassau, the top communities were:
- Massapequa (45 sales)
- Levittown (36)
- Hicksville (32)
- Valley Stream (29)
- New Hyde Park (28)
In Suffolk, the top communities were:
- Lindenhurst (38)
- Huntington (36)
- Ronkonkoma (33)
- Dix Hills and Smithtown (28 each)
Dix Hills had some of the fastest growing prices on Long Island earlier this year, Newsday reported. The median price in the first half of the year was $1.41 million, up from $1.2 million the year before, data showed. That's a 17.7% increase. Read more.
Most expensive sales in October
The priciest October sale was in Peconic, where an 11-bedroom, 16-bathroom home sold for $19.175 million. In Nassau, the most expensive home was in Muttontown. The home sold for $5.45 million and had five bedrooms and six bathrooms.
