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