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The Blueprint:
- Long Island had 4,305 homes listed for sale in January 2026, 16.4% fewer than January 2025.
- There were 1,394 closed home sales on Long Island in January 2026, down 6.7% from January 2025.
- Median home prices in Nassau County rose 3% to $835,000 compared to January 2025.
- Median home prices in Suffolk County increased 4.5% to $700,000 compared to January 2025.
The Long Island housing market has started 2026 as cold as the weather, with sales and inventory down and home prices up.
While 2025 ended with a record low number of Long Island homes listed for sale, January didn’t see much improvement. There were 4,305 Long Island homes, including single-family, condos and co-ops, listed for sale with OneKey MLS at the end of last month, just 18 more than the record low of 4,287 the previous month and 16.4 percent fewer than the 5,146 homes listed for sale at the end of Jan. 2025.
The historically low inventory of homes for sale has been stifling sales and pushing prices higher. There were just 1,394 closed homes sales on Long Island last month—616 in Nassau County and 775 in Suffolk County, according to OneKey MLS data. That’s more than 17 percent fewer than the 1,685 closed home sales from the previous month and 6.7 percent less than the 1,494 closed sales from Jan. 2025.
Sales have also been impacted by high home prices, limiting the pool of prospective buyers. The median price of closed single-family home sales in Nassau in January was $835,000, same as it was the previous month and about 3 percent higher than the $810,000 median price recorded in Jan. 2025, according to OneKey MLS.
In Suffolk, the median price of closed single-family home sales last month was $700,000, same as it was the previous month, but 4.5 percent higher than the $670,000 median price of Jan. 2025. The Suffolk numbers don’t reflect all sales on the East End.

So far, the lowest mortgage rates in three years have not led to an increase in listings or sales. The average rate for a 30-year fixed-rate mortgage is 6 percent as of Thursday, lower than any point in 2025 and the lowest since Sept. 2022, according to Bankrate.com. By comparison, rates averaged 6.9 percent towards the end of Jan. 2025.
While home sales were also down nationally, the Northeast region saw the biggest decline last month, down 8.3 percent year-over-year, according to the National Association of Realtors.
“January felt noticeably slower on the ground, and that experience closely mirrors what the OneKey MLS data is showing,” Molly Deegan, broker-owner of Sea Cliff-based Branch Real Estate Group, told LIBN. “Sales were down, inventory remained tight, and pricing held firm—continuing a pattern we’ve seen for the better part of the last two years.”
Deegan said that there is also a strong seasonal and psychological element at play in the current market, with buyers and sellers waiting for clearer signals around rates, the economy, and the broader political landscape.
“Housing is deeply influenced by policy, from interest-rate decisions and inflation management to tax considerations, she said. “Uncertainty can be enough to keep people on the sidelines.”
As to what it will take to turn the real estate ship around, Deegan said a more predictable rate environment, even if rates remain higher than they were pre-2022, would go a long way toward restoring confidence.
“Increased inventory will follow as homeowners accept that ultra-low rates are unlikely to return, and life circumstances take precedence,” she said. “The good news is that the fundamentals of the Long Island market remain very strong. A diverse employment base, resilient small businesses, and deep ties to healthcare, education, and professional services continue to provide a stabilizing force and support housing demand.”
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David Winzelberg
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