Housing Prices in Suffolk and Nassau County Begin to Decrease

The median house price in Nassau and Suffolk counties decreased from July to August, and housing prices on Long Island finally stopped rising, but unfortunately, they are still higher than they were at this time last year. House prices in Suffolk fell by $10,000 to $565,000 and by $20,000-700,000 in Nassau Country, still making them both 6.6 percent higher than they were at this time last year. According to experts, the increase in mortgage interest rates—a measure intended to counteract increasing inflation—is what is mostly to blame for this. One of the few industries that hasn't suffered since the end of the pandemic lockdowns in the spring of 2020 is real estate. It sparked a purchasing frenzy all around the Island. Additionally, prices increased because of the low supply, which sparked several bidding wars. Many individuals are being priced out of the housing market by buyers who are extremely interested in these homes.

Housing Prices in Suffolk and Nassau County Begin to Decrease

Work With Us

If you are looking for an honest, hard working team to help you navigate through the selling or buying process you need to look no further. The Galluzzo Team will help you find the perfect buyers or your dream home!

Contact Us

Follow Us on Instagram