Long Island home prices rise as inventory stays tight

Signature Premier Properties says Long Island’s housing market stayed competitive in the first half of 2026, with median prices rising in both Nassau and Suffolk counties as available homes remained scarce. The report points to continued seller leverage, especially in lower-priced and move-in-ready homes, while buyers faced more competition and fewer options.

Why it matters: - Limited inventory is keeping Long Island home prices elevated even as sales volume stayed flat or slipped in some areas. - The trend matters for sellers who still have pricing power and for buyers facing fewer affordable options and more competition.

What happened: - Signature Premier Properties released its 2026 Mid-Year Market Report on September 1, 2026. - The report covers OneKey MLS single-family residential data from Jan. 1 through June 30, 2026, compared with the same period in 2025. - Nassau County’s median sales price rose 5.5% to $850,000. - Suffolk County’s median sales price rose 5.2% to $710,000. - Nassau saw 11,283 single-family homes listed for sale in the first half of 2026, up 1% from a year earlier. - Nassau recorded 8,222 closed sales, down fractionally from 2025. - Suffolk saw new listings and closed sales decline modestly.

The details: - Nassau ended June with just over 2,000 homes for sale, compared with about 8,000 in 2019. - Nassau sellers received an average of 99.3% of their original asking price. - Suffolk inventory fell more than 4% from the prior year. - Suffolk sellers received an average of 100.3% of original asking price. - The report said demand continued to outpace supply in many communities. - Signature Premier Properties has 23 offices across Long Island and ranks among the top 5% of U.S. residential brokerages, according to RISMedia and RealTrends. - The report also provides community-level data including median sales prices, year-over-year changes, homes sold and average days on market.

Between the lines: - The report shows a split market: higher prices and tight supply favor sellers, but affordability pressure is making buyers more selective. - First-time buyers and communities with lower entry-level prices appear to face the strongest competition. - Well-priced, move-in-ready homes continue to attract the most interest and can draw multiple offers. - Some local markets posted sharp price gains, showing how uneven Long Island’s housing conditions remain town by town.

What's next: - Signature Premier Properties says buyers will need strong preparation and local market knowledge as desirable homes continue to move quickly. - The report suggests price pressure could continue as long as inventory stays constrained. - Community-level market differences are likely to remain a key feature of Long Island housing through the second half of 2026.

The bottom line: - Long Island’s housing market is still being set by scarcity, not softness.