By Hank Russell
Home sales numbers on Long Island were not as robust last month, but that didn’t keep prices from going down.
According to the New York State Association of REALTORS®, Inc. (NYSAR), 762 homes were sold in January, which is only a 1.1% increase over the previous year, with 754 closings. Despite the paltry performance, the median sales price leaped 9.9% to $769,400 last month from $700,000 in January 2024.
In Suffolk County, home sales dropped 0.5%, with 970 homes sold this January, compared to 975 the previous year, according to NYSAR. Despite the dismal results, median home prices keep climbing; the price tag went up last month to $645,000 from the previous January’s number of $585,000 — a 10.3% increase.
The number of existing homes for sale fell in both counties, based on NYSAR data — by 2.6% year over year in Nassau from 2,012 last January to 1,959 in January 2025, and by 0.6% in Suffolk from 2,709 to 2,692.
However new listings rose on Long Island; it went up 4.8% from 863 to 904 over the same time period in Nassau, while Suffolk saw 1,149 new homes on the market last month — a 5% increase over January 2024, when 1,094 listings were available.
Supply remained the same at 2.3 months in Nassau, while Suffolk’s supply dropped by 7.7% from 2.6 to 2.4 months.