By Hank Russell
A local real estate expert says the Long Island housing market is “insane” as both inventory and prices have gone up, especially with the new listings. He also foresees an increase in new homes for sale in the coming months, with prices steadily declining.
The New York State Association of REALTORSⓇ (NYSAR), Nassau and Suffolk Counties saw increases in new inventory last month. Nassau saw a yearly 5.4% rise in new homes for sale from 1,328 in June 2025 to 1,404 this past June. In Suffolk, there were 1,776 new listings last month, compared to 1,792 the previous year — a 4.3% increase.
Sales also went up in both counties. Nassau had 866 closings in June 2026, which is up 1.3% from the previous June, when 855 homes were sold, based on NYSAR data. Suffolk had 1,132 sales completed last month — up 1.4% from the previous June, when there were 1,118 homes for sale.
Despite the addition of homes on the market, prices still went up. The median sales price in Nassau went up 4.0% to $852,575, compared to $820,000 last year, according to NYSAR. Suffolk’s home sales price saw a 6.7% rise to $720,000 last month from $675,000 the previous June. Both figures exceed the state’s median price of $475,000, which is 8.0% higher than the previous June’s number of $440,000.
The rise in prices may be attributed to availability. Based on NYSAR data, the number of homes available for sale in Nassau slid year after year by 3.5% from 2,905 in June 2026 to 2,804 in June 2025. In Suffolk, Inventory also dropped in both counties — a 2.9% decline from 3.5 to 3.4 months in Nassau and down 11.4% in Suffolk from 3.5 to 3.1 months. That is less than the statewide inventory of 3.6 months, which is 2.9% higher than June 2025’s figure of 3.5 months.
“When inventory goes up, prices are supposed to come down, but prices went up in Nassau and Suffolk,” said Joe Moshé, broker and owner of Charles Rutenberg Realty in Plainview. “Predicting what’s going to happen in our marketplace is impossible, but, here it goes: I see inventory steadily increasing at a slow pace. I see more buyers entering the market as they are realizing waiting for low interest rates does not seem to be in the near future. With that combination, I foresee the prices remaining stable, but slowly coming down.”
Moshé said, if someone wishes to buy a house, they should do it now as more houses start to enter the market.
“We have inventory that’s up — hallelujah!” he said. “Now let’s see if the trend continues.”