February may be the briefest month, but it was among the best for those selling houses, condominiums and cooperatives.
Nassau County single-family home prices rose, co-op prices jumped and condo prices rocketed in a double-digit rise in February year over year, as the month, still within the grasp of winter, saw prices heat up and even sizzle.
Nassau County single-family home median sale prices jumped 6.3% year over year to $850,000 as of February, as the number of new listings and inventory plummeted, keeping prices high compared to a year ago and up from the prior month.
Median house sales edged up a scan 074% in Suffolk to $685,000, while they rose 6.02% in Queens to $872,200 and 16.16% in Westchester to $999,000 just short of the $1 million mark.
Nassau condo median sales prices rocketed 15.1% to $920,000, surpassing single-family houses in price in what proved a banner month for condominiums.
Many new condominiums have been coming online in Nassau, offering a wide range of amenities as construction of communities continues and is completed.
Median co-op prices also were part of a rising tide that lifted all residential categories, rising nearly 19% or 9.3% to $360,000, all anniversarying a softer February a year ago.
The data from OneKey MLS was good news for single-family home, condo and coop sellers, as demand continues to outpace shrinking Nassau County supply.
Median Nassau single-family home prices were up 6.25% from January as well, according to FastStats data also provided by OneKey MLS.
The inventory of single-family homes for sale in Nassau dropped 16.6% year over year to 1,473, while new listings tumbled 23.7% to 576.
Single-family homes were being snapped up much faster as well, as days on the market tumbled 20.6% to only 54 days from 68 or a little more than two months.
Single-family home prices as a percent of asking price slipped slightly, or 0.1%, to 98.7% from 98.8%, as the number of sales dwindled, down 3.6% to only 54.
Condo sale prices bucked the trend in recent months, rising 15.1% from $ 799,500 to $920,000, knocking on the door of a million dollars.
Inventory of condos slipped 6.1% to 185, with new listings down 2.4% to 80, as days on the market slipped 19.4% to 50, even less time than single-family houses.
The number of closed sales, however, fell 21.2% to 41, somewhat lower than the 489 houses where deals slipped by 3.6%.
Condos went for 98.0% of the asking price, down from 98.9%, but still close to the asking price, buoying prices.
Co-op median sales prices added about $30,000 year over year, rising from $329,000 a year ago to $360,000, as inventory fell 8.9% to 185 and new listings dived 29.4% to 60.
Days on the market also dropped 11.6% to 61, while sales as a percent of asking price remained flat at 97.7%.
The number of closed co-op sales also dropped 5.4% to 53, as shrinking inventory seems to take a toll on the number of closed deals in all categories.
