The spring housing market on Long Island continued to be robust in May, as pending home sales and the number of available listings were on the rise.
There were 3,439 Long Island homes contracted for sale last month, an increase of 3 percent from the 3,339 pending sales in April and nearly 132 percent more than the 1,487 homes contracted for sale in May 2020, according to preliminary numbers from OneKey MLS.
There were 1,571 homes contracted for sale last month in Nassau County and 1,868 homes contracted for sale in Suffolk County.
At the same time, inventory continues to climb from the record lows of a few months ago. There were 7,076 homes—3,708 in Nassau and 3,368 in Suffolk—listed for sale with OneKey MLS as of Friday. That’s nearly 7.8 percent more than the 6,569 homes that were listed for sale at the end of April and 17.7 percent more than the 6,008 homes listed for sale at the end of March, when inventory bottomed out.
However, the current number of homes listed for sale is still 30.7 percent fewer than the 10,205 homes that were listed for sale at the end of May 2020.