The median sales price for a single-family house, the county’s primary residential real estate indicator, rose 4.4% in Nassau County year-over-year as of December to $835,000 as supply dropped, according to OneKey MLS.
It was a good sign of a strong market for sellers as the year ended, single-family houses went for 99% of the asking price, up 0.3% from a year ago.
The number of days on the market tumbled 9.8% to 46, a sign that people are snapping up houses amid still-shrinking inventory.
The number of closed sales for single-family houses in Nassau in December, however, dropped 5.5%, as inventory plummeted 15.7% to 1,501 over the year.
If numbers ended the year up for single-family houses, single-family house prices slipped in Nassau from November to December.
OneKey MLS cited FastStats data indicating that single-family home sale prices dropped 0.6% from $840,000 in November, a month that showed particularly mixed results.
Suffolk single-family house prices in Nassau from November to December dropped 3.45% to $700,000, while prices soared 8.9% from November to $980,000 or nearly $1 million in Westchester.
Nassau condo prices in December year over year dropped 19% from $996,500 to $807,500, going for 97.8% of the asking price, down 0.8% from a year ago.
Days on the market for condos in December compared to a year ago rose 37.8% to 62, while inventory shrank 29.6% to only 133, a still small number compared to houses.
Co-op prices jumped 7.7% year over year in December, reaching $350,000, far below those for houses and condominiums. Co-ops went for 98.3% of the asking price, flat with a year ago.
Days on the market for co-ops fell 11.5% to 46, while inventory shrank 10.7% to 167, with low supply helping push prices higher.
OneKey MLS said the overall New York metropolitan region showed “measured growth, resilient demand, and continued price stability across the region’s diverse housing segments.”
Median prices across all properties rose 3.8% year-over-year to $675,000, “reflecting sustained buyer confidence amid constrained inventory,” according to OneKey MLS.
The median sales price for single-family homes across the region rose to $740,000, up 4.2% from December 2024. Condominium median prices across the New York metropolitan region increased 9.0%, while co-ops rose by 8.9%.
“December’s data shows a market that continues to move forward with discipline and durability,” OneKey MLS CEO Richard Haggerty said. “Even with ongoing inventory challenges, buyers and sellers remained engaged through year-end.”
Total closed sales across all categories in the New York metropolitan region increased 1.5% year-over-year to 4,303 transactions, with single-family homes recording 3,229 closed sales, up 1.4% over the previous year.
Inventory remained tight, with total homes for sale down 9.0% year-over-year, while properties were snapped up faster than a year ago.
Properties sold in a median of 54 days across the New York metropolitan region, nearly 7% faster than one year ago, while sellers continued to receive close to the asking price, averaging 98.6% of the original list price.
OneKey MLS said that looking ahead, “market activity is expected to remain steady as demand continues to outpace available inventory.”
