Long Island Housing Prices Continue To Stay Near Record-Highs

LONG ISLAND, NY — Long Island housing prices stayed near their record highs in December, as low inventory keeps the market hot, according to data from OneKey MLS.

Prices are not quite as high as they were over the summer, when median sales prices hit record highs in both Nassau and Suffolk counties. But they were close. The median sales price in December in Nassau County was $645,000, and $525,000 in Suffolk. The all-time highs were $670,000 and $530,000, respectively.

Month-to-month, the prices vary. Nassau had a median sales price of $652,500 in November, while Suffolk's was $520,000.

Prices are way up year-over-year, however. Last December, Nassau's median sales price was $605,000, and Suffolk's was $480,000.

The huge spikes in prices are due, in part, to low inventory. There were 1,309 homes sold in Nassau in December, compared to 1,647 the year before. In Suffolk, there were 1,726 sales, compared to 2,217 in 2020.

Real estate is one of the few areas that hasn't been suffering since the pandemic lockdowns ended in the spring of 2020. 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.