Long Island Real Estate: What Buyers and Sellers Need to Know This Fall
Oct 26, 2026 · @Laura Carroll
If you've been waiting for the Long Island market to cool off, fall is a good time to look at where things actually stand. Inventory is still tight, prices are holding firm, and buyers and sellers who understand today's conditions are the ones getting results. Here's what I'm seeing across Nassau and Suffolk, and what it means for your next move.
What is the Long Island housing market like right now?
Long Island home prices are still rising, and supply is still tight. In September 2026, the median single-family sale price was $860,000 in Nassau County (up 2.1% year over year) and $740,000 in Suffolk County (up 2.8%), according to OneKey MLS. Homes sold in about 40 days, and sellers got roughly 100% of their original asking price.
Single-family homes, Sept 2026 | Nassau County | Suffolk County |
|---|---|---|
Median sale price | $860,000 (+2.1%) | $740,000 (+2.8%) |
Homes for sale | 2,318 (−1.7%) | 3,220 (−2.9%) |
New listings | 929 (−10.4%) | 1,287 (−5.6%) |
Closed sales | 757 (−4.1%) | 1,041 (+4.6%) |
Average days on market | 40 | 40 |
% of original list price received | 99.8% | 101.0% |
Changes are year over year vs. September 2025. Source: OneKey MLS via Long Island Guide.
The key takeaway is that new listings fell faster than buyer demand. Fewer homeowners are putting their homes on the market, so well-priced homes still sell quickly. Over the last 12 months, the Nassau median rose 4.9% to $860,000, and the Suffolk median rose 5.8% to $725,000.
How are mortgage rates affecting Long Island buyers?
Mortgage rates are higher than they were a year ago, which makes affordability the biggest challenge for buyers this fall. The average 30-year fixed rate was 7.32% on October 22, 2026, according to Freddie Mac. That's down slightly from 7.40% the week before, but up from about 6.19% a year earlier (FRED, Trading Economics).
Higher rates have not brought prices down on Long Island. Many current owners locked in much lower rates and are choosing not to sell, which keeps inventory low and keeps prices up. For buyers, the result is higher monthly payments, not cheaper homes.
Is now a good time to buy a home on Long Island?
Fall can be a smart time to buy, especially for first-time homebuyers, as long as you plan carefully. There is typically less competition in the fall than in the spring. Sellers who list now are often motivated to close before year-end.
- Get fully pre-approved, not just pre-qualified. In a market where homes sell at or above asking, sellers favor buyers with solid financing.
- Budget by monthly payment, not just price. With rates above 7%, a small change in price or rate can significantly change your payment.
- Ask your lender about rate buydowns and first-time buyer programs. Seller concessions and down payment assistance can lower your upfront and monthly costs.
- Look beyond the obvious towns. Neighboring communities in Central Nassau, such as Garden City, Rockville Centre and nearby areas, can offer different price points and lot sizes.
- Be ready to move quickly. At about 40 days on market, the best-priced homes often go under contract within the first couple of weeks.
Should I sell my Long Island home this fall?
Yes, if your home is priced and prepared correctly. Low inventory means less competition from other sellers. New single-family listings dropped 10.4% in Nassau and 5.6% in Suffolk in September, so buyers have fewer homes to choose from.
- Price to the current market, not last spring's. Buyers are paying close to asking, about 99.8% in Nassau and 101% in Suffolk, but higher rates make them more payment-sensitive. Overpriced homes sit.
- Make the home move-in ready. Buyers stretching to afford their payment have less cash left for repairs.
- Consider offering concessions instead of price cuts. Paying toward a buyer's rate buydown can make your home more affordable without lowering your sale price.
- Invest in marketing. Professional photography, floor plans and a strong online presence matter when buyers are searching on their phones.
Frequently asked questions about Long Island real estate
What is the median home price on Long Island in 2026? In September 2026, the median single-family sale price was $860,000 in Nassau County and $740,000 in Suffolk County (OneKey MLS).
Are Long Island home prices going down? No. Prices were still up year over year in both counties in September 2026, at +2.1% in Nassau and +2.8% in Suffolk.
How long does it take to sell a house on Long Island? Single-family homes averaged about 40 days on market in both Nassau and Suffolk in September 2026.
What are mortgage rates right now? The average 30-year fixed rate was 7.32% as of October 22, 2026 (Freddie Mac).
Work with a local Long Island expert
Every town on Long Island moves differently, and the right strategy depends on your goals. The Laura Carroll Team at Compass helps buyers and sellers across Central Nassau County, including Garden City and Rockville Centre, with a special focus on first-time homebuyers. Reach out to Laura Carroll at [email protected] for a free home valuation or a buyer consultation.
