Long Island Home Prices, Fall 2026: Nassau Tops $900K and Suffolk Hits $760K. What It Means for Buyers

"Fewer homes are selling, so prices have to come down soon, right?" We hear that a lot this time of year, and we get why people think it. But the latest numbers tell a different story. The typical single-family home in Nassau just sold for more than $900,000, and Suffolk's median jumped 7% in a year. After more than 20 years of helping people buy on Long Island, here's our plain-English read on what's going on, where these prices land against the loan limits, and what you can actually do about it this fall.

Single-family homes, as of the August 2026 OneKey MLS county reports (published September 2026).

What the Latest Long Island Numbers Actually Say

Every month, OneKey MLS, the listing service most Long Island agents use, publishes county-level sales data. The August 2026 reports showed the same pattern we've watched all year: prices up, sales flat to down, and not enough homes for sale to go around. Here's the side-by-side.

Changes are versus August 2025. Source: OneKey MLS August 2026 county reports, as summarized by Long Island Guide on September 29, 2026.

Two numbers jump out at us. First, Nassau's monthly median climbed from $875,000 in June to $911,000 in August. Second, homes in both counties are still selling for more than their asking price on average. In Suffolk, the typical seller got 102.2% of list. That's not what a cooling market looks like.

Why Prices Keep Rising Even Though Fewer Homes Are Selling

It feels backwards, but it's really about supply. Fewer sales doesn't mean fewer buyers. It mostly means fewer homes changed hands, because there weren't many to choose from. Nassau had slightly fewer homes for sale at the end of August than a year earlier, and Suffolk had nearly 4% fewer, even though more new listings came on. Homes are coming onto the market and getting bought, so the pile of available homes never really grows.

A lot of that comes down to people staying put. Many Long Island homeowners are sitting on mortgages they got when rates were much lower, and on top of that, moving on Long Island is expensive once you add up transfer taxes, closing costs, and the price of whatever you'd buy next. So they stay, the supply stays tight, and prices hold up. For a look at what different budgets buy across the Island, see our breakdown of what $600K, $800K, and $1M gets you on Long Island.

Where Today's Median Home Lands Against the Loan Limits

Here's the part most market reports skip, and it matters a lot for your financing. Conventional loans come in tiers, and on Long Island, the typical home now sits right on the line between two of them.

That's why the same house can have noticeably different financing options depending on how much you put down. In Suffolk, the median home still sits comfortably under the standard limit for most buyers. In Nassau, the median is now above it, so a few thousand dollars in down payment can decide which tier you're in. Our conventional loans page covers how the tiers work in more detail, and the calculator below shows exactly where your numbers land.

Higher Rates on Top of Higher Prices

Prices aren't the only thing that moved. Mortgage rates climbed through September to their highest level in over a year, which means the same monthly payment buys less house than it did in the spring. We walked through what's driving that, and five practical moves to make, in what buyers should do now that rates hit a one-year high.

The short version for Long Island buyers: don't just ask "what can I afford," ask "what can I afford at today's payment, and what's my plan if rates move?" That might mean a smart rate lock strategy, asking the seller to fund a temporary rate buydown instead of a price cut, or running your numbers in our affordability calculator before you tour.

Why Fall Can Still Work in Your Favor

This is the part we like to remind people of. Spring and summer on Long Island are crowded: families trying to move before the school year, bidding wars, and sellers who know it. By October, a lot of that competition has thinned out. New listings were up in both counties in August, sellers who listed over the summer and didn't sell are more willing to talk, and there's usually more room to negotiate on things like closing credits and repairs.

We want to be straight with you, though: the August data still shows homes selling at or above asking on average. Fall gives you more breathing room, not a clearance sale. The buyers who do best are the ones who are ready to move when the right house shows up.

Don't Overlook Condos and Co-ops

If single-family prices are stretching your budget, it's worth knowing condos and co-ops tell a different story right now. In August, Nassau's condo median actually fell 10.8% to $740,000 and its co-op median fell 5.0% to $380,000. In Suffolk, the condo median was $570,000 and co-ops came in at $257,500. Just know that co-ops are financed very differently from houses and condos, with board approval and share loans. Our condo vs. co-op guide explains what to expect.

Market data reflects OneKey MLS single-family, condo, and co-op figures for August 2026 as reported in September 2026, and will change as new monthly reports are released. Loan limits are 2026 FHFA figures for one-unit properties. All loans are subject to credit approval, underwriting, and property eligibility. This article is for educational purposes and is not a commitment to lend. Coltrain Mortgage is a mortgage broker; all loans are arranged through third-party lenders. Equal Housing Opportunity.