Pending Long Island home sales rose last month, along with an increase in the number of homes listed for sale.
There were 3,334 Long Island homes contracted for sale last month, up slightly from the 3,322 homes contracted for sale in March, according to preliminary numbers from OneKey MLS.
April’s pending home sales were more than double the 1,079 pending home sales from April 2020, when the real estate industry was in the throes of the state’s pandemic lockdown. Last month’s pending home sales were up nearly 3.7 percent from the 3,214 pending sales recorded in April 2019.
Inventory, which had been at record low levels, is slowly rising. There were 6,569 Long Island homes—3,393 in Nassau and 3,176 in Suffolk–listed for sale with OneKey MLS as of Monday, a 9.3 percent increase from the 6,008 homes that were listed for sale at the end of March.
However, inventory is still historically low. The current number of homes listed for sale in Nassau and Suffolk is 30.6 percent fewer than the 9,470 homes that were listed for sale at the end of April 2020 and nearly half the 12,472 homes that were listed for sale at the end of April 2019.