By Hank Russell
Home sales prices inched up again on Long Island as Nassau’s went above the $800,000 mark. However, as in months past, closings declined, and available inventory and new listings dropped by double-digit percentage points.
According to the latest report from the New York State Association of REALTORSⓇ, the median sales price hit another high in February, this time at $820,000. That is up 5.8% from February of last year, when it was $775,000. Suffolk, meanwhile, saw a slight decrease of 0.8% from $660,000 in February 2025 to $655,000 last month. Both exceeded the state’s median price of $425,000.
Home sales performances in both counties seemed to repeat themselves as they kept declining. Only 587 homes were sold in Nassau last month — a drop of 4.9% from the previous February, based on NYSAR data. In Suffolk, there were 790 closings, which is only 1.3% lower than in February 2025, when 800 homes were sold.
Even worse, finding a home on the market became more of a challenge. In Nassau, according to NYSAR, the number of homes for sale fell by 11.5% year over year from 2,122 to 1,879, and there were only 2,428 homes on the market — down 19.3% from the previous February (3,008). There was a 21.3% fall in the number of new listings in Nassau — 717 last month, compared to 911 in February 2025 — and only 880 new homes were listed in Suffolk this February, which is 29% less than it was last year (1,240).
Inventory also took a hit. Nassau’s supply fell 11.5% from 2.6 to 2.3 months, while Suffolk’s inventory went from 2.7 to 2.2 months — a drop of 18.5%. That is below the state’s inventory level, which is at 2.5 months.
The lack of inventory statewide has become a concern for REALTORS, according to NYSAR President Ron Garafalo.“We appreciate New York State’s commitment to expanding housing opportunities, but the latest data makes clear that the shortage isn’t improving fast enough and demands more immediate action,” he said. “We respectfully urge the Legislature and Governor [Kathy] Hochul to accelerate efforts to remove barriers and help facilitate increased housing production across the state.”