Suffolk Home Prices Reach New Highs While Nassau Market Simmers

LONG ISLAND, NY — Housing prices in Suffolk County hit a new high in August, while prices in Nassau County remained at the record level they set in July, according to real estate data from OneKey MLS. Housing prices on Long Island have been setting new records every month since March.

The Long Island real estate market has been incredibly hot since last summer, when sales were allowed to continue following pandemic shutdowns in the spring. Since then, housing prices have been going up and inventory has remained low, creating a booming seller's market.

The median sale price in Suffolk County climbed to $535,000 in August, $10,000 from July, according to OneKey's data. Nassau's median price remained at $670,000.

Low inventory and high demand has created a run-away housing market on Long Island since the pandemic shutdowns were lifted last summer. Housing prices have steadily increased since last May, going up more than $100,000 in Suffolk and nearly that much in Nassau.

There were more homes sold in Nassau in August than July, going from 1,427 to 1,573. In Suffolk, the number sales month-to-month was slightly down — 1,760 in July compared to 1,723 in August.