Long Island Housing Market Hits New Price Highs — Tight Inventory Keeps Pressure On Buyers

Market update

September 09, 2025

Long Island’s housing market continues its upward climb, with Suffolk County matching its all-time high median price of $680,000 in February — a 13.3% jump from last year. Nassau County isn’t far behind, with median prices reaching $795,000, up 5.7% year-over-year.

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These numbers mirror the record highs last seen in August 2024, when Suffolk first hit $680,000 and Nassau peaked at $835,000. The driving force behind these price surges? Inventory. The number of homes for sale across the Island is down 6.5% from a year ago, as many homeowners hold onto their low interest rates instead of selling.

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For buyers, this means competition remains fierce. Some homes are still attracting multiple offers above asking price, but agents are starting to notice a shift — sellers may soon hit a ceiling on what buyers are willing (or able) to pay.

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From a realtor’s perspective, this market rewards preparation and speed. Buyers should be pre-approved and ready to act quickly, while sellers in desirable areas still hold the upper hand — for now. If rates drop later in the year, more inventory could loosen the market, but until then, expect prices to stay near record territory.

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Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.

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