Long Island Condo Prices Soar Past Houses
Comparing Condo and Single-Family Home Price Trends Despite economic turbulence, Long Island's real estate markets display contrasting trends across property types. In 2025, condo prices grew modestly compared to single-family homes. Condominiums experienced a 3.6% year-over-year price increase, reaching a median of $515,000. Meanwhile, single-family homes in Nassau County saw a significant 12.3% surge, with a median price of approximately $820,000. This discrepancy highlights the differing pricing dynamics between these property types. Nassau County maintains higher price points with signs of slowing activity compared to Suffolk County. Co-ops, on the other hand, saw a decline, with prices falling by 5%. These variances underscore how demand and development influences impact each market differently. Elevated mortgage rates and new developments, particularly affect the condo market, unlike the resilient single-family sector. These dynamics indicate diverging market trajectories on...