Nassau County’s single-family home market delivered another month of price gains in March, with the median sale price climbing 4% year-over-year to $849,000 even as inventory dried up and fewer deals closed.
The numbers come from OneKey MLS, which tracks residential sales across the New York metropolitan area. Overall regional property sales rose 3.3% year-over-year to a median of $660,000, but the headline figure masks a squeeze that’s remaking what it means to buy a home in Nassau County right now.
Inventory fell 12.8% to 1,665 houses. New listings dropped 4.6% to 1,014. Closed sales slid 8.7% to 527. Fewer homes available, fewer homes entering the market, fewer deals done, and yet prices kept climbing. That’s the whole story in three numbers.
“This market continues to show real resilience,” OneKey MLS CEO Richard Haggerty said in a written statement. “Prices are holding firm, buyer activity is picking up this spring, and sellers remain strong across the region.”
Single-family homes sold for 99.0% of asking price in March, up 0.9% from a year earlier, and spent only 58 days on the market, a drop of 7.9%. Those two figures together tell you there’s no bargaining room. Buyers who find a house they can afford aren’t wasting time and they’re not negotiating. They can’t afford to.
Across metropolitan New York, single-family prices rose 2.6% to $745,000. Nassau’s 4% gain beat the regional average by a meaningful margin, a sign that Nassau County’s particular combination of school districts, commuter access, and constrained land supply keeps it a step ahead of the broader market even when conditions tighten regionally.
The co-op segment surprised. Nassau co-ops hit a median sale price of $342,500, a 7.0% jump year-over-year, and sold for 98.4% of asking price. Days on market fell off a cliff: down 28.2% to 51 days. Co-op inventory dropped 4% to 190 units, new listings fell 5.3% to 89, and closed sales dropped 10.1% to 62. Regional co-op data from OneKey MLS tracked similarly, with co-op prices up 6.1% to $302,500. The co-op category, which Nassau County homebuyers and renters sometimes overlook in favor of single-family or condo options, is now moving faster than almost anything else on the board.
Then there are condos. Condo prices in Nassau dipped 0.1% to $711,943, the one category bucking the upward trend, though just barely. Inventory fell 13.8% to 175 units. New listings dropped 7.9% to 82. Closed sales fell 8.3% to 44. Condos still sold at 99.8% of list price, up 2.1%, and sat on the market for only 59 days. So the price softness isn’t about weak demand. With inventory collapsing across all three categories, even flat condo prices come against a backdrop of near-frantic competition for what’s listed.
Long Island Press reported Haggerty’s broader observation about the region: “We’re watching tightening inventory closely, but the data shows ready buyers are getting off the sidelines.”
That phrase deserves some scrutiny. Buyers getting off the sidelines is good news for sellers, but it doesn’t solve the structural problem. Supply constraints on Long Island aren’t new and they won’t dissolve because spring demand picks up. Nassau County’s zoning rules and density restrictions have kept new residential construction well below the pace needed to meet demand for years. The OneKey MLS data measures what’s happening in the market. It doesn’t measure the tens of thousands of would-be buyers who looked at $849,000 medians and stayed on those sidelines.
For context on what’s driving prices across the region, the New York State Association of Realtors tracks statewide trends that consistently show downstate markets, particularly Nassau and Suffolk, running well ahead of upstate figures in both price appreciation and inventory tightness.
The spring selling season is now fully underway, which typically brings the year’s highest volume of new listings. If that surge materializes, it could take some pressure off prices in the condo category and stabilize days-on-market figures that have been compressing for months. The March data, though, captures a moment when Nassau County’s housing stock offered buyers less to choose from than a year ago, charged them more for what was available, and still managed to move it faster than before.