The weather may be cold, but the Nassau County real estate market, possibly buoyed by declining interest rates and supply and no sign of a lack of interest in houses in the region, hasn’t lost its sizzle.
Nassau County single-family house median prices rocketed 8.4% in November year-over-year to $840,000 from $775,000 with days on the market tumbling 10% to 45, according to OneKey MLS.
Single-family house prices from October to November also rose, edging up 0.36% to $840,000, as the rocket, if not at a rapid rate, continues to rise, according to FastStats, cited by OneKey MLS.
Single-family house inventory in November, however, tumbled 15.6% to 1,784 from a year ago as the percent of asking price received slipped slightly, 1.1%, to 98.2% from 99.3%.
The number of closed sales slipped 5.6% to 621 as new listings declined 10.6% to 600, showing no signs that inventory is rebounding, although a shortage of offerings may push up prices.
Single-family house prices over the last 12 months as of November rose slightly less, 7.8% to $829,000, as inventory slipped 0.7% to 2,089 and percnet of asking price dipped 0.5% to 99.3% from 99.8%.
Median sales price for Nassau co-ops in November year-over-year jumped 10.3% to $369,500 as inventory slipped 0.5% to 195, but percent of asking price rose 0.5% to 98.1% and days on the market until sale plummeted 27.6% to 55.
Median sales prices of Nassau condos in November, however, dropped 9.1% to $770,000 from $847,500, a big decline year-over-year even as houses and co-op prices rose.
Condo prices, as percent of asking price, though, increased 1.1% to 99.4% of asking price from 98.3%, as days on the market until sale tumbled 32.9% to 53 and inventory declined 17.4% to 180.
Interest rate cuts may, at least in part, be fueling a robust real estate market. The Federal Reserve has been cutting its benchmark rate, lowering it from 4.22% in September to 3.88% as of November, helping lower mortgage rates from around 6.35% in September to around 6.21% in November.
The winter rise continues trens from fall
All of this followed a similar trend, with single-family houses and coops increasing in price year over year, while condos, far closer than coops are to house prices, dropped in the fall, possibly influenced by expected rate cuts.
OneKey MLS, which provides the data, at the time said the U.S. housing market “showed modest improvement in the third quarter of 2025, despite ongoing affordability challenges and a limited supply of existing homes for sale.”
Mortgage rates, according to OneKey MLS, began the summer in the mid-to-high 6% range and gradually declined, “helping to boost existing-home sales in July before activity leveled off in August.
“Some economists believe a combination of lower rates and increased inventory could support additional sales gains in the months ahead,” OneKey MLS said regarding to the third quarter as fall closed.
The 30-year fixed mortgage rate started at around 6.72% in July and slipped to about 6.35% by September, amid anticipation of Federal Reserve rate cuts that would help boost sales in the winter.
TheMortgageReport.com at that time noted that the interest rate “outlook shifted in September, when the Federal Reserve delivered its first rate cut of the year, helping nudge mortgage rates meaningfully lower.”
Third quarter median sales price for single-family houses in Nassau County, as fall ended, rose 4.8% to $855,500 from $816,000 the prior comparable quarter and soared 6.3% to $830,000 from $780,873 year to date.
Single-family houses to end the third quarter went for asking price, down slightly from 100.6% in the prior comparable quarter, a sign of a slight loss of sizzle, and for 99.6% of asking price year to date, down 0.4% from the comparable period last year.
And new single-family house listings continued to rise for that quarter, possibly buoyed by a robust real estate market, edging up 2.6% to 2,969 from 2,895 and rose 3.5% to 9,231 from 8,922 year to date as of September.
Nassau co-op median sales price soared 10.9% to $365,000 for the third quarterr, possibly lifted by a higher single-family house price, as coop sales jumped 3.4% to 212. Coop inventory for the quarter slipped 5.7% to 215, while days on the market plummeted 20.6% to 50.
But Nassau condominium median sales price, on the other hand, for that quarter decreased 1.5% to $847,000 as condo closed sales dropped 8.8% to 208. Third quarter inventory sank 15.3% to 188 from 222 as days on the market rose 15.1% to 61, as the trend of shrinking inventory, in the fall, continued into winter.
