Is Long Island Still a Seller’s Market in 2026? Suffolk & Nassau Explained
By Jack Cutrone, Licensed Real Estate Salesperson | Patriot Real Properties
Published October 6, 2026
If you have been reading housing headlines, you might expect buying a home to be getting easier. Sales have slowed nationally, and more homes are available.
But here on Long Island, the latest numbers show prices still rising in both Suffolk and Nassau counties.
That can be confusing. How can a market cool while homes keep getting more expensive?
The answer comes down to local conditions. A national headline can help explain the bigger picture, but it cannot tell you what a particular home in Smithtown, West Islip, Farmingdale, or another Long Island community should sell for.
What the latest numbers show
As of October 6, August 2026 is the latest monthly report available on OneKey MLS’s market statistics page. Its single-family home figures show:
Suffolk County: The median sale price reached $760,000, up 7.0% from $710,000 in August 2025.
Nassau County: The median sale price reached $911,000, up 4.7% from $870,000 in August 2025.
Source: OneKey MLS market statistics.
The median is the middle sale price. It does not mean every home increased in value by that percentage. Changes in the mix of homes sold can also affect the number.
Still, these figures show that Long Island’s single-family market continued to record higher prices than a year earlier.
Nationally, the National Association of REALTORS® reported that existing-home sales fell 2.0% from July to August. Available inventory increased to 4.9 months of supply, while the median price rose 1.6% from a year earlier.
Slower sales and falling prices are different things. August’s national report showed slower activity alongside continued price growth.
Are buyers getting more breathing room?
There are signs of that, even in our region.
OneKey’s August report described its broader New York metropolitan service area as a seller’s market with less urgency. Across that area, homes for sale increased 1.3% from a year earlier, and average time on market held steady at 46 days.
Those figures cover the broader OneKey region, including counties beyond Long Island. They should not be treated as Suffolk or Nassau statistics.
My reading of these reports is that sellers still have support, while buyers may have more room to compare homes and negotiate. The balance depends on the town, price range, property type, and condition.
A countywide number is a starting point. The homes competing with yours tell a more useful story.
Why an overpriced home can still sit
A seller’s market does not make every asking price reasonable.
Buyers have a budget. They compare your home with other choices and consider the work it needs. A dated kitchen, an aging roof, or a higher tax bill can change what someone is willing to offer.
When setting a price, I look at recent comparable sales, current competition, condition, and how buyers are responding.
My Pricing Strategy Advisor training helps guide that process. The goal is to price a home based on evidence and give it a strong position when it first reaches the market.
If your home is listed and activity is weak, review the price, presentation, and competing listings. A strong county market cannot fix a mismatch between a home’s asking price and what buyers see.
What Long Island buyers should do
Start with a monthly payment you can comfortably manage.
Include property taxes, insurance, maintenance, and any association fees. Two homes with the same asking price can have very different ownership costs.
Build your budget around the financing available today. A future refinance should be a possibility, rather than something you need to make the purchase affordable.
Before making an offer, review comparable sales and the home’s condition. Ask how long it has been listed and whether the price has changed. Those details can help you decide where there may be room to negotiate.
For a closer look at the process, read my First-Time Home Buyer Guide for Long Island and my article on rising mortgage rates and Long Island homebuying.
What sellers should do before listing
Get a local pricing review before choosing an asking price or spending heavily on renovations.
Some improvements help a home show better. Others may cost more than buyers will recognize in the sale price. Decide what makes sense for your property and its likely competition.
If you also need to buy another home, work through both sides of the move. Your sale proceeds, next payment, and timing all belong in the same plan.
Make your decision using your local market
Long Island’s latest price figures remain strong. Buyers may also be gaining some breathing room. Both can be true.
For sellers, that means preparation and pricing still matter. For buyers, it means looking carefully at each opportunity while staying within a comfortable budget.
If you are thinking about buying or selling in Suffolk or Nassau County, I can help you review the local numbers and put together a plan that fits your situation.
Jack Cutrone
Licensed Real Estate Salesperson | Patriot Real Properties
Military Relocation Professional (MRP) | Pricing Strategy Advisor (PSA)
631-926-9592
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