After dropping to a record-low number of available listings in February, Long Island housing inventory inched higher last month — though home sales still lagged from a year ago.
There were 4,637 Long Island homes — including single-family, condos and co-ops — listed for sale with OneKey MLS at the end of March. That's 445 more than February's 4,192, but nearly 16.7% fewer than the 5,570 homes available in March 2025.
Sales Activity
The persistently low supply continued to weigh on closed transactions. There were 1,425 closed home sales on Long Island last month — 633 in Nassau County and 792 in Suffolk County, per OneKey MLS data. While that's 63 more than February, it's 136 fewer than March 2025's 1,561 closings.
Prices by County
Nassau County's median single-family sale price in March came in at $849,000 — down just $1,000 from February but up 4% from March 2025's $816,000. In Suffolk County, the median reached $700,000, up $15,000 from the prior month and 6.9% higher than March 2025's $655,000.
Mortgage Rates
The average 30-year fixed mortgage rate currently sits at 6.26%, per Bankrate — still below the 2025 full-year average of 6.6%. Even so, rates have taken a back seat to home prices as the primary affordability hurdle for buyers.
On the Ground
High prices — more than mortgage rates — have been keeping buyers on the sidelines, particularly at the entry level.
"In most markets in Suffolk and Nassau that entry level home is just continuously getting squeezed upwards. They're having a hard time competing. Homes that are coming up within a reasonable budget range are needing a lot of work." — Nick Orlando, Associate Broker, Compass Huntington
Severe winter weather in January and February suppressed activity early in the year, but signs of a spring thaw are emerging.
"The first quarter was interesting because of the kind of extreme weather that we had. I found that a lot of buyers and sellers were a little hesitant to get into the market." — Nick Orlando, Associate Broker, Compass Huntington
Pending sales picked up in March, suggesting pent-up winter demand is starting to move.
"There was a little bit of an uptick with March with a little bit of that backlog from the winter months." — Nick Orlando, Associate Broker, Compass Huntington
The Big Picture
Long Island closed 3,610 home sales in Q1 2026, down slightly from 3,692 in Q1 2025, per Miller Samuel and StreetMatrix. The median single-family price for the quarter held at $750,000 — flat with Q4 2025 but up $30,000 from Q1 2025. Available single-family inventory also edged up year-over-year, from 4,001 in Q1 2025 to 4,082 in Q1 2026.
Supply constraints remain the defining challenge, but the spring market appears to be gaining momentum.
Originally reported by David Winzelberg for Long Island Business News, April 16, 2026. Data sourced from OneKey MLS and Miller Samuel / StreetMatrix.
