Mid-Year Market Check-In: What NYC & Long Island Buyers & Sellers Need to Know Now

We’re halfway through 2025—and if you’ve been watching the headlines, you already know they don’t always tell the full story.

In Metro New York and across Long Island, the real estate market is doing a complicated dance. While some national trends are cooling, local data shows our area is marching to its own beat. If you’re a buyer or seller in Queens, Brooklyn, or Nassau/Suffolk County, here’s what you need to know right now.

Local Market Snapshot: NYC + Long Island (January–June 2025)

• Queens: Median home price up 3.2% year-over-year. Inventory is up slightly, but bidding wars are still happening in entry-level price points (under $750K).

• Brooklyn: Co-ops are moving slower than condos. Brownstone demand remains strong. Median sale price is hovering around $910K.

• Nassau County: Up 5% YTD. High competition in family neighborhoods like Elmont, Valley Stream, and Hempstead.

• Suffolk County: A bit of breathing room. Prices up just 1.8% with more inventory creeping in.

National vs. Local: A Tale of Two Markets

• National Trend: Mortgage rates hovered between 6.6% and 7.1% in Q2. Many markets saw price corrections or stagnation.

• Local Reality: NYC and Long Island didn’t get the memo. The demand is still strong, especially in areas with good schools, access to LIRR or subway, and move-in-ready homes.

Buyers: Has Your Window Opened?

It’s still competitive—but savvy buyers are seeing opportunities in homes that linger past 30 days. More sellers are open to credits or minor price drops, especially if your financing is locked and ready. FHA and VA buyers are also getting offers accepted again.

Pro tip: Don’t skip homes that need a little love. You might be walking past instant equity.

Sellers: Should You List Now or Wait for Fall?

If your home is priced right and photo-ready, now is the time to capture summer buyers. But if you’ve been on the fence, waiting until after Labor Day could work in your favor—especially as fall inventory typically dips and serious buyers return from summer distractions.

Final Takeaway

The first half of 2025 showed resilience in the local market—and a lot of misinformation nationally. Whether you’re buying your first place or considering cashing out for a major life move, don’t rely on social media hype. Use local data and a local expert (👋🏾 hey, that’s me) to guide your decisions.

Need help understanding your local market?
Let’s break it down neighborhood by neighborhood—book your free strategy call with me and let’s run your numbers.