Here’s where Long Island homes are hitting record prices — as inventory stays tight

These prices really hit home.

The cost of houses on Long Island has taken another steep climb — with Suffolk County last month tying a record as overall local inventory remains tight, new figures show.

The median price of a single-family home in Suffolk in February hit $680,000, or 13.3% above the median cost for the same month last year, according to figures from the Farmingdale-based real-estate firm OneKey MLS.

The $680,000 figure is the same median price recorded for Suffolk in August — when it set a record.

Nassau homes also saw a 5.7% rise in median home sales in February compared to the same 2024 period, selling for $795,000.

Their peak median price point of 2024 was in August at $835,000, the highest price in at least six years.

The median price means the same number of homes were sold below it as above it for that period.

The inventory of houses for sale on the island last month meanwhile dipped 6.5% compared to February 2024, OneKey MLS CEO Richard Haggerty told Newsday.

“We’re still suffering from an interest-rate environment that is not encouraging sellers to list their properties,” he said.

Another report by brokerage firm Redfin showed that Nassau home prices shot up last month at the third-fastest rate among the nation’s 50 largest metropolitan areas, behind only Milwaukee and Detroit.

Angela Prince of Bay Shore’s Weichert Realtors said many Long Island homes have been getting offers that are higher than asking prices.

But she said she believes that asking prices are starting to reach a buyer threshold.