January 1st through December 31st
22 Offices Located Throughout Long Island
MASSAPEQUA
BAY
Annual Report FROM RISING PRICES TO INVENTORY CHALLENGES
NAVIGATING LONG ISLAND’S COMPETITIVE MARKET
The U.S. real estate market faced shifting trends in 2024, with rising mortgage rates, limited inventory, and affordability concerns shaping sales. While higher borrowing costs slowed sales in some areas, home prices remained strong due to a persistent housing shortage.
Long Island’s home prices stayed high in 2024 amid low inventory and strong demand. A total of 22,757 homes were sold across Nassau and Suffolk counties. Nassau’s median home price rose 10% from $690,000 in 2023 to $760,000 in 2024, while Suffolk saw an 11.5% increase from $565,000 to $629,995.
Since 2019, prices have surged—up 44% in Nassau and 58% in Suffolk—due to a sharp drop in listings. Compared to 2019 (in a pre-covid economy), new listings were down 41% in Nassau and 36% in Suffolk. Last year saw slight improvement, with a 13% year over year rise in new listings in Suffolk and a modest 1% increase in Nassau.
Suffolk led the New York Metro Area in closed sales, with 12,913 homes sold, while Nassau recorded 9,748 sales. The ongoing supply-demand imbalance continues to push prices higher, creating affordability challenges. Sellers may still benefit from a competitive market, but price growth is expected to slow as affordability constraints grow.
Heading into 2025, mortgage rates will be a key factor. Lower rates could attract more buyers and further drive up prices, while higher rates may cool demand slightly—though low inventory will likely keep prices from falling. With housing supply still tight, competition is expected to remain strong.
Overall, Long Island’s market will stay active but cautious, with affordability and inventory levels shaping the year ahead. Buyers and sellers must stay adaptable as conditions evolve.
At Signature Premier Properties, our agents are experts in the local real estate market and are ready to assist whether you’re buying or selling a home. With 23 office locations and over 1,800 sales professionals who live and work in the communities they serve Signature agents provide unparalleled local knowledge and personalized service to help navigate today’s market successfully.
BABYLON TOWNSHIP MARKET REPORT
2024 Year-to-Date Analysis • January 1st - December 31st
BROOKHAVEN TOWNSHIP MARKET REPORT
2024 Year-to-Date Analysis • January 1st - December 31st
$975,000
$498,000
$675,000
$576,250
$650,000
$565,000
$572,500
$745,000
BROOKHAVEN TOWNSHIP MARKET REPORT
Year-to-Date Analysis • January 1st - December 31st
HEMPSTEAD TOWNSHIP MARKET REPORT
HEMPSTEAD TOWNSHIP MARKET REPORT
2024 Year-to-Date Analysis • January 1st - December 31st
Median Sales Price 2024
$765,000
$662,500
$1,612,500
$670,000
$999,000
$820,000
$725,000
$733,000
$803,000
$779,550
$845,000
$650,000
$775,000
$680,000
$720,000
$1,275,000
$889,000
$589,500
$710,000
$784,000
$610,000
$687,000
$750,000
$710,000
$1,160,000
Median Sales Price 2023
$799,900
$625,000
$1,199,500
$603,000
$1,100,000
$828,750
$615,000
$650,000
$1,036,500
$849,000
$557,000
$575,000
$749,000
$550,000
$645,000
*Data in this Market Report is sourced from Onekey MLS for Nassau County and Suffolk County and is a comparison of residential homes sold between (Jan 1, 2024-December 31, 2024) and (Jan 1, 2023 - December 31, 2023). All information here is intended for informational purposes only and is subject to errors, omissions, changes in price without notice.
HUNTINGTON TOWNSHIP MARKET REPORT
2024 Year-to-Date Analysis • January 1st - December 31st
$850,000
$1,605,000
$751,500
$1,028,975
$730,000
$1,155,000
$876,500
$863,000
$1,985,000
$618,500
$2,120,000
$2,200,000
$950,000 $911,875
$722,500
ISLIP TOWNSHIP MARKET REPORT
2024 Year-to-Date Analysis • January 1st - December 31st %
NORTH HEMPSTEAD TOWNSHIP MARKET REPORT
$950,000
$800,000
$1,680,000
$1,400,000
$780,000
$1,600,000
$2,157,500
$1,412,500
$1,185,000
$1,465,000
$1,630,000
$1,922,500
$1,200,000
$3,550,000
$1,556,500
$750,000
$825,000
OYSTER BAY TOWNSHIP MARKET REPORT
$850,000
$716,750
$2,750,000
OYSTER BAY TOWNSHIP MARKET REPORT
RIVERHEAD TOWNSHIP MARKET REPORT
2024 Year-to-Date Analysis • January 1st - December 31st
SMITHTOWN TOWNSHIP MARKET REPORT
2024 Year-to-Date Analysis • January 1st - December 31st
SOUTHAMPTON TOWNSHIP MARKET REPORT
SOUTHOLD TOWNSHIP MARKET REPORT
$1,245,000
$1,250,000 $947,500
$1,130,000
$876,000
$1,137,500
$1,400,000
$1,417,500 $1,080,000
AMITY HARBOR
90 Montauk Highway
Amity Harbor, NY 11701 Office: 631.842.8400
BABYLON
126 W Main Street
Babylon, NY 11702
Office: 631.422.3100
BAY SHORE
94 West Main Street
Bay Shore, NY 11706
Office: 631.647.4880
COLD SPRING HARBOR
157 Main Street
Cold Spring Harbor, NY 11724
Office: 631.692.4800
DIX HILLS
15 East Deer Park Road
Dix Hills, NY 11746
Office: 631.673.3900
EAST NORTHPORT
190 Laurel Road
East Northport, NY 11731
Office: 631.368.6800
EAST SETAUKET
750 Route 25A
East Setauket, NY 11733
Office: 631.751.2111
GARDEN CITY
730 Franklin Avenue
Garden City, NY 11530
Office: 516.741.4333
HAMPTON BAYS
26 East Montauk Highway
Hampton Bays, NY 11946
Office: 631.728.1900
HUNTINGTON
157 East Main Street
Huntington, NY 11743
Office: 631.673.3700
MASSAPEQUA PARK
1000 Park Boulevard
Masspapequa Park, NY 11762
Office: 516.799.7100
MERRICK
324 Merrick Avenue
Merrick, NY 11566 Office: 516.546.6300
MILLER PLACE
275 Route 25A
Miller Place, NY 11764 Office: 631.642.2300
NORTHPORT
180 Main Street
Northport, NY 11768 Office: 631.754.3600
ROCKVILLE CENTRE
75 Seaman Avenue
Rockville Centre, NY 11570
Office: 516.766.7900
RONKONKOMA
4949 Express Drive N Suite 104
Ronkonkoma, NY 11779 Office: 631.585.8400
SAYVILLE
95 Main Street
Sayville, NY 11782 Office: 631.567.0100
SMITHTOWN
7 West Main Street
Smithtown, NY 11787
Office: 631.360.2800
SOUTHOLD
53935 Main Road
Southold, NY, 11971 Office: 631.765.6000
SYOSSET
33 Jackson Avenue
Syosset, NY 11791 Office: 516.921.1400
WADING RIVER
6347 Route 25A
Wading River, NY 11792 Office: 631.495.5678
WANTAGH
1867 Wantagh Avenue
Wantagh, NY 11793 Office: 516.785.0100
MAIN: 877.273.3750