By Hank Russell
A local real estate expert says the housing market is still ripe for homeowners who want to sell, based on recent data from the New York State Association of REALTORSⓇ (NYSAR). He also said that he sees “slower appreciation and a more selective market.”
According to NYSAR, in April, 595 homes were sold in Nassau — down 12.8% from the previous April, when there were 682 closings. However, Nassau added 13.6% more new listings this year, with 1,544 in April, compared to 1,359 the same month last year. Additionally, the number of homes for sale increased, although slightly by 1.7%, from 2,542 in April 2025 to 2,586 in April 2026. Inventory remained flat at 3.1 months.
The number of closings in Suffolk saw a yearly decline of 12.7%, to 813 in April, compared to 931 during the same month last year. Additionally, although there were 6.5% fewer homes for sale in April (3,226) than last year (3,452), there were more new listings; last month, there were 1,866 listings making their way onto the market, up 13.0% from April 2025 (1,652). Inventory dropped, however, from 3.1 to 2.9 months — a 6.5% decrease.
“Nassau inventory being flat means supply is not improving enough to soften prices,” said Joe Moshé, the broker/owner of Charles Rutenberg Realty, Inc., a Plainview-based real estate firm. “Suffolk inventory dropping 6.5% is actually more bullish for sellers because fewer homes are available.”
The median sales price in Nassau rose 7.8% from $769,000 last year to $829,000 last month. Suffolk home sale prices saw a bump of 3.8% year over year from $650,000 to $675,000. “Nassau median prices show strong demand and limited affordability. Suffolk is still expensive historically, but offers more value relative to Nassau.”
Moshé said Nassau may be hitting “a pricing ceiling,” meaning “buyers are stretching financially because of taxes, mortgage rates, and affordability pressure. Appreciation may slow there.” Suffolk, meanwhile, “ still has momentum because many buyers leaving New York City or Nassau see Suffolk as the ‘value play,’ especially eastern and mid-island suburbs. … Suffolk currently appears to have better upside and value than Nassau.”
The biggest factor, Moshé said, is mortgage rates. “If rates stay elevated, price growth probably moderates, but low inventory is preventing any meaningful decline in prices. In other words, demand may weaken slightly, but there still are not enough homes for sale.”
Moshé said he does not foresee a housing market crash on Long Island. “Waiting for a major crash in Long Island real estate has historically been a losing strategy because supply is chronically tight,” he said. “If rates eventually fall, prices could rise further due to renewed competition.”
When asked if now is the right time to buy, Moshé said families looking to buy a home within the next five to 10 years and shouldn’t wait for a financial catastrophe to occur. He said investors should exercise caution. “Cash flow is difficult at today’s prices and rates unless you buy below market, add value, or target strong rental areas,” he said.
For first-time homebuyers, the decision to buy a home will be made on how much they can afford to pay monthly, as opposed to how much house they can afford to buy. “If you can comfortably afford today’s payment without stretching, buying now can make sense. If it requires extreme sacrifice, waiting or buying smaller may be smarter.”