During the second quarter of 2025, the Long Island real estate market continued to experience historically low inventory with high demand despite industry headwinds. In total, sales volume increased 1.6 percent, with days on market experiencing a 14.5 percent decrease. Single family homes sold were down 5.1 percent year-over-year, with an increase in average price of 6.2 percent while Condo & Co-op homes sold were down slightly at 1.1 percent with an increase in average price of 8.8 percent.
In Nassau County, total sales decreased 5.4 percent along with a decrease in sales volume of 1.5 percent. Buyer demand drove an
average sales price increase of 3.5 percent, along with a days on market decrease of 13.2 percent. Further east, Suffolk County experienced similar trends with total sales decreasing 4.9 percent. With the average sales price increasing to 8.7 percent, total volume in fact increased 4.4 percent, along with a decrease of days on the market of 14.8 percent.
Across Nassau and Suffolk, listings priced at $3 million and over experienced a 16.6 reduction in days on market, with total sales and sales volume nearly identical to the previous year. By county, total sales in Nassau County decreased 27.3 percent with sales volume decreases of 22.4 percent. These decreases were counterbalanced by a total sales increase in Suffolk County by 22.6 percent and an increase of sales volume of 14.5 percent.
By and large, 2025 Q2 data demonstrates that Long Island experienced a continued trend of inventory scarcity, and a resilient buyer population. These conditions lead to continued decreases in sales volume, days on market, along with slight increases in average sales prices and sales volume. Despite continued dialogue on a national level, on a local level, remain confident that buyers will remain plentiful in Q3 and Q4, maintaining average sales prices and potentially inspiring sellers to enter the market.
