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The regional housing market continued to show resilience in April, with home prices rising since last year despite a slowdown in sales activity, according to data released today by OneKey MLS.
The median sale price for single-family homes in the region — from Long Island and New York City up into the lower New York counties — was $711,000 in April.
That’s a 5.6 percent increase from April 2024.
Condominium prices remained steady at $510,204, while co-op prices saw a modest 3.1 percent uptick to $299,000.
However, sales volume declined across all housing types. Single-family home sales dropped by 4.9 percent, condominium sales fell 8.4 percent, and co-op sales decreased by 14 percent.
From December 2024:
“The data shows that while some areas are adjusting after rapid price gains, others are seeing buyers hesitate amid economic and interest rate uncertainty,” said Richard Haggerty, CEO of OneKey MLS. “These local variations reinforce the importance of understanding market dynamics at the local level — and overall, the resilience in pricing signals underlying strength in the region’s housing market.”
Nationally, the housing market is experiencing similar trends.
The Wall Street Journal reports that the spring home-selling season is underperforming, with high mortgage rates—averaging around 6.89 percent —and near-record home prices deterring potential buyers. Despite an increase in housing inventory in many parts of the country, demand remains tepid, leading to slower sales activity.
On Long Island, the limited supply of homes continues to drive competition among buyers, sustaining price growth even as sales volume declines year-to-year.
Single family homes in Nassau went from $764,500 in April 2024 to $790,000 for this April, good for a 3.3 percent increase.
In Suffolk, that number also rose, from $625,000 in 2024 to $675,000 in 2025, at an 8 percent clip.
Still, Nassau is trending downward — at least as of late.
The $820,000 median home price in March 2025 dropped to $790,000 in April in Nassau, a minus-3.7 percent difference. In Suffolk County, the median home price rose month-to-month, from $655,000 to $675,000 in April, good for a 3.1 percent jump.
Top: A Long Island neighborhood in East Islip, N.Y., in January 2023. (Credit: Greater Long Island/file photo)
