Port Washington real estate is still going strong as the number of prospective buyers continues to outpace the number of sellers across the Long Island home market. The median sales price of homes in Port Washington was up year on year, as was the total number of houses sold, the sale-to-list price and the number of homes that were sold above the list price, from a look at the real estate numbers that came in for last month. Welcome to this week’s Long Island HOME Market Flash as we head to Port Washington, NY.
Port Washington homes sold for a median price of $1,117,500 this past August, an increase of 14% year on year, according to Redfin. Three years ago, the average median price was $950,000, a number that dipped in 2019 and then rose more than 12% in 2020.
Just over 4 in 10—41.2%—of the homes that sold in August went for more than the list price, an increase of 119.6% over last year’s activity, the highest such number during the entire prior five-year period. Overall, the sale to list price for Port Washington was 99.2% of the list, which is an increase of 3.3% over prior year.
The average home in Port Washington stayed on the market for 20 days, a 64.6% change from the 56.5-day average a year ago. (In March 2019, the average days on market was 139 days, marking the highest number in the past five years). More homes were sold as well year on year—34 homes sold in August 2021, a bump of 6.3% over the same period of time last year.