The Nassau County, NY metro area housing market in January 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased by 1.3% year-over-year, settling at $700,888. This decline contrasts with the Median List Price, which has increased by 3.0% to $720,000, indicating a potential gap between seller expectations and buyer willingness.

In terms of Price Per Square Foot, the market has experienced a notable increase. The median Price Per Square Foot has risen by 10.5% year-over-year to $454.31, while the Median List Price per square foot has seen a modest increase of 1.0%, reaching $437.63. This suggests that while overall sales prices have slightly decreased, the value attributed to each square foot of property has appreciated significantly.

Sales activity has shown a slight decline, with 1,742 Homes Sold, representing a 0.7% decrease from the previous year. Pending Sales have dropped more sharply by 9.9%, totaling 1,375. This decline in Pending Sales could indicate a slowdown in buyer activity or potential challenges in closing transactions.

New Listings have increased by 2.6% year-over-year, reaching 1,911, while inventory has decreased by 3.5% to 3,881. The Months of Supply, a critical indicator of market balance, has decreased by 10.0% to 2.20 months, suggesting a tighter market with fewer homes available relative to demand.

The Median Days on Market have increased by 3.0% to 32 days, indicating that homes are taking slightly longer to sell compared to the previous year. The average sale to list ratio has seen a minor decrease of 0.2%, now at 100.4%, suggesting that homes are selling very close to their list prices.

The percentage of Homes Sold above list price has decreased by 2.7% to 49.0%, reflecting a potential shift in buyer leverage. Price Drops have increased by 2.2%, now at 15.5%, indicating that sellers may be adjusting their expectations to align with market conditions. Additionally, the percentage of homes going off the market in two weeks has decreased by 1.2% to 10.3%, suggesting a slight slowdown in the pace of sales.

Overall, the Nassau County housing market in January 2025 exhibits a mix of rising list prices and declining sales prices, with increased Price Per Square Foot values and a tightening inventory. These dynamics suggest a market in transition, with potential implications for both buyers and sellers navigating the current real estate landscape.