Long Island’s real estate market is defying easy predictions, with perception and reality often moving in opposite directions.
While national headlines warn of cooling prices and waning demand, local agents say that’s far from the full story. In desirable neighborhoods, competitively priced homes are still selling fast—even as sellers who overreach find their listings lingering.
The fall season, typically seen as a slowdown, has instead become a window for serious buyers and sellers to strike balanced deals.
Yet, across all price points, one theme stands out: caution. Buyers are thinking longer-term, prioritizing value and lifestyle fit over urgency, while fluctuating interest rates and uncertain headlines fuel hesitancy on both sides.
Still, seasoned agents agree that opportunities remain for those willing to act strategically. Whether it’s recognizing that well-priced homes won’t wait or seeing potential in a quieter market, adaptability—and local insight—are proving to be this season’s most valuable assets.
Here’s what some local agents had to say about their observations.
Alexandra Gregorek | Douglas Elliman
475 Port Washington Blvd., Roslyn
516-883-5200
We’re in a market where perception and reality don’t always align. Buyers are hearing headlines about prices dropping, which creates hesitation, but the truth is that well-priced homes in high-demand neighborhoods are still moving quickly. Waiting too long can mean missing out on the right home. Sellers, on the other hand, often still believe we’re at peak pricing. The reality is that overpriced homes are sitting on the market, while strategic pricing is key to attracting buyers and generating offers. Over the next couple of months, fluctuating interest rates and shifting media headlines will continue to shape how buyers and sellers feel about the market. That’s why it’s more important than ever to work with a local specialist who understands what’s happening street by street, not just what’s being reported in the news. I expect supply to remain tight through the winter, but as spring approaches and interest rates (hopefully) settle, we should see more inventory and new opportunities for both buyers and sellers.
Melanie Cogan | Compass
69 Roslyn Rd., Roslyn Heights
516-319-1623
As we enter the fall real estate market, it’s easy to assume “fall” stands for falling demand, falling prices and fewer listings going under contract. While those trends exist, the truth is that fall creates real opportunity for both buyers and sellers to engage in honest, productive negotiations. Buyers often delay until spring, expecting more inventory—but that’s a gamble. In our local market, the biggest ongoing challenge has been low inventory and there’s no guarantee spring will improve that. Now is the time for serious buyers and sellers to take advantage of a quieter market. Sellers should price realistically based on current conditions. Buyers, in turn, should evaluate true market value and make solid offers. For buyers concerned about timing, it’s worth noting that longer contract timelines can often be negotiated. If you’re not ready to move tomorrow, that doesn’t mean you can’t lock in a great home today. We may not have a crystal ball, but one thing is clear: when both parties stay grounded and flexible, great deals happen—even in the fall.
David Lau | Keller Williams Greater Nassau
400 Garden City Plaza Ste. 438, Garden City
347-683-7563
The most surprising trend in this year’s market has been the shift in buyer psychology. Over the past five years, buyers were so eager to secure a home amid constant bidding wars that they would do whatever it took to reach the closing table. That urgency has cooled. In the past six months alone, I’ve had three transactions where the winning bidder—after competing aggressively—got cold feet and backed out. The backup buyer then stepped in, only to do the same. In all three cases, it was the second backup buyer who ultimately purchased the home. Despite this hesitation, each property still sold for above the asking price. The change isn’t in demand—it’s in confidence. Today’s buyers are far more cautious, reflective and unwilling to stretch beyond their comfort zones.
Serimatie “Devi” Lakhnath | Laffey Real Estate
1 East Main St., Huntington
516-581-5075
Even with interest rates at historic lows, today’s buyers, especially in the luxury segment, are approaching with caution. The modern buyer is not driven solely by numbers; they’re seeking long-term lifestyle alignment and financial prudence. Many are waiting for the perfect combination of value, timing and property uniqueness before making their move. In premium markets, every decision is intentional. This pause isn’t hesitation, it’s discernment. The best opportunities often arise when others hold back and savvy buyers recognize that strategic timing creates lasting advantages.
