Nassau at $832,500, Suffolk at $725,000 in September
Long Island closed 2,083 residential sales in September, according to OneKey MLS records summarized in a local brokerage market report. The two counties tell different stories about price and speed, and the gap between them is one of the defining features of the island’s housing market.
Nassau and Suffolk are often discussed together, yet buyers experience them differently. Nassau sits closer to the city with older, more established housing stock, while Suffolk spreads across a much larger area that includes both the North Shore’s historic villages and the East End. The September medians reflect those differences.
The medians
- Nassau County: $832,500 median sale price
- Suffolk County: $725,000 median sale price
- Combined: about $770,000, compared with about $799,000 in August
The combined median fell by roughly $29,000 from August, but the report itself cautions against reading that as a drop in home values. The monthly median shifts with the mix of homes that close. When more modest houses close in a given month, the middle number slides even if no individual home lost value. The reverse is equally possible, which is why a single month should never be treated as a verdict on prices.
The Fox Business Clips video above features an investor’s argument that the housing market has flipped toward buyers. That view is one commentator’s opinion and not a finding of the OneKey data, which does not report inventory or months of supply.
Counting the volume
The 2,083 closings cover both counties. The report does not say how many came from each, and it does not include active listings or months of supply, so no conclusion about inventory is possible from this source. Volume matters because a median based on a few hundred sales is far more sensitive to the mix of homes than one based on several thousand, and county-level figures rest on smaller samples than the combined number.
The OneKey release for the wider New York metro area is covered in a companion post on the OneKey metro report.
Context from the rate market
The report ties the month to Freddie Mac’s 30-year fixed average, which it lists at 6.71% at the start of September, above 7% by late September and 7.28% on October 1. Rates have moved considerably since many of these contracts were signed, so later months may look different. A buyer who contracted in early September closed under very different borrowing conditions from a buyer who is starting a search now.
Where to find the primary data
Readers who want the primary data can find OneKey MLS statistics at the OneKey MLS market statistics page. The page posts regional summaries, and county-level tables may require the full monthly report. Because a brokerage summary reorganizes the figures, anyone using the numbers for a decision should confirm them against the official release.
A comparison with the Northeast regional picture appears in the NAR regional report, and the share of homes selling above asking is covered in the September above-asking summary.
This article reports published figures for general information. It is not financial, legal or lending advice, and every number reflects the date of its source, so confirm current figures before acting on them.
