The Nassau County, NY metro area housing market in February 2025 presents a complex landscape with varying trends across key metrics. The Median Sales Price has increased to $715,000, reflecting a year-over-year (YoY) growth of 2.1%. This rise indicates a steady appreciation in home values, albeit at a moderate pace compared to previous years.

The Median List Price stands at $725,000, with a marginal YoY increase of 0.7%. This slight uptick suggests that sellers are maintaining their pricing expectations, although the growth is not as robust as the sales price increase. The median Price Per Square Foot has surged by 7.1% YoY to $440.95, highlighting a significant rise in property value on a per-square-foot basis. Conversely, the Median List Price per square foot has seen a modest increase of 1.0% YoY, reaching $448.49.

In terms of sales activity, 1,389 homes were sold, marking a slight YoY increase of 0.7%. However, Pending Sales have decreased by 10.4% YoY, totaling 1,601. This decline in Pending Sales could indicate a potential slowdown in future transactions. New Listings have also dropped by 7.9% YoY to 1,993, suggesting a tightening in the market supply.

Inventory levels have decreased by 3.4% YoY, with 4,044 homes available, contributing to a reduced Months of Supply, now at 2.90 months, down by 10.0% YoY. This reduction in supply could exert upward pressure on prices if demand remains steady. The Median Days on Market have slightly decreased by 1.0% YoY to 35 days, indicating that homes are selling relatively quickly.

The average sale to list ratio has improved by 0.5% YoY, reaching 100.4%, suggesting that homes are selling very close to their asking prices. Additionally, the percentage of Homes Sold above list price has increased by 4.6% YoY to 49.4%, reflecting competitive market conditions. Price Drops have seen a slight increase of 0.3% YoY, now at 13.7%, while the percentage of homes going off market in two weeks has decreased by 2.2% YoY to 13.9%.

Overall, the Nassau County housing market in February 2025 exhibits a mix of rising prices and constrained supply, with some indicators pointing to potential cooling in future sales activity. Buyers and sellers should remain vigilant as market dynamics continue to evolve.