Long Island Home Sales Slow, But Prices Remain High

LONG ISLAND, NY — Housing sales across Long Island fell in November, but prices remained high. That's from the latest market data released by OneKey Multiple Listing Service.

The OneKey data shows that the number of homes sold in both Nassau and Suffolk counties was down month-to-moth, as well as year-over-year. There were 1,189 homes sold in Nassau County last month, and 1,492 sold in Suffolk. That's down from October, when there were 1,355 sold in Nassau and 1,692 in Suffolk.

It's also lower than the same time last year, when there were 1,471 sold in Nassau and 1,754 in Suffolk. That's a year-over-year drop of more than 19 percent in Nassau and nearly 15 percent in Suffolk.

But because there are fewer homes being sold, prices are remaining high. According to the OneKey data, the median sales price for November in Nassau County was $655,000 and in Suffolk was $520,000. The price remained about the same since October in Suffolk, but was $5,000 higher in Nassau.

Still, prices have come down from the historic highs set earlier this year, when the median sales price topped out at $670,000 in Nassau and $531,000 in Suffolk.

Real estate is one of the few areas that hasn't been suffering since the pandemic lockdowns ended last year. It set off a flurry of buying across the Island. And with limited inventory, prices soared. And though prices are beginning to dip, it is still a great seller's market.