June 05, 2025
If you’ve been keeping an eye on the Long Island housing market, you’ve probably noticed — prices just don’t seem to slow down.
February marked another steep climb, particularly in Suffolk County, where the median price for a single-family home reached $680,000, tying its all-time high from last August. That’s a 13.3% jump year-over-year.
Over in Nassau County, prices aren’t far behind. Median home prices hit $795,000 in February — up nearly 6% compared to this time last year.
The peak so far in 2024 was back in August, when prices hit $835,000, the highest in over six years.
So, what’s fueling these record highs? In a word: inventory. The number of homes for sale on Long Island has dropped by 6.5% compared to last February.
With fewer homes on the market and still-high demand, prices are being pushed upward.
And it’s not just a local trend — Nassau saw one of the fastest-growing price increases among the nation’s top 50 metro areas last month, trailing only Milwaukee and Detroit, according to Redfin.
Buyers are still willing to pay over asking in some cases, but there’s a growing sense that things might be reaching a ceiling.
As one local agent put it, we’re approaching a point where buyers are saying, "OK, we’ve had enough." But we’re not quite there yet.
For anyone looking to buy or sell in this market, timing and strategy are everything.
If you're buying, be prepared to act fast and bring strong offers. If you're selling, this could still be your moment — but pricing your home right is key as buyer fatigue starts creeping in.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
