The median closing price for the spring house hunting season went up .1 percent from the same time last year for most of Long Island and Queens, according to the second-quarter report commissioned by Prudential Douglas Elliman Real Estate.
The $445,450 median is not only a slightly higher than $445,000 median closing price for last year, it’s also higher than the $435,000 median closing price for the first three months of the year. That’s no surprise, considering housing sales warm up as the weather grows warm too.
It’s not clear if that year-over-year increase is a blip. The Multiple Listing Service of Long Island has been consistently reporting drops in median closing prices compared to a year ago.
The quarterly report, prepared by Manhattan-based appraiser Miller Samuel Inc., does not cover North Fork and Hamptons sales, which are done separately.