according to Newsday<\/a>.<\/p>\nNearly 11,000 buyers were on the hunt in Long Island last month, according to the report. They were competing for the homes of just over 7,300 estimated sellers.<\/p>\n
A seller\u2019s market, according to Redfin, is determined when buyers outnumber sellers by more than 10%.<\/p>\n
High-quality schools and access to NYC continues to entice new buyers to Long Island, despite high borrowing rates. Joe Trentacosti \u2013 stock.adobe.com<\/p>\n
Maria\u00a0Babaev, a real estate advisor on Long Island\u2019s North Shore, told The Post that Nassau County has been immensely popular among buyers, but it\u2019s less chaotic than the red-hot market of 2021.<\/p>\n
\u201cThis market is no longer driven by frenzy, it\u2019s a lot more thoughtful,\u201d Babaev said. \u201cBut the trend continues with very low inventory.\u201d<\/p>\n
Particularly active segments can be found in the $2 million to $4 million price range in prominent North Shore villages, Babaev said, like Roslyn, Roslyn Heights, Old Westbury and Brookville.<\/p>\n
These areas attract local and out-of-town buyers alike with high-quality schools, easy access to New York City, and a suburban lifestyle.<\/p>\n
\u201cI truly feel like we have a renaissance moment,\u201d Babaev said.<\/p>\n
Affluent enclaves dot Long Island. Aurora East Media \u2013 stock.adobe.com<\/p>\n
The increased competition for Long Island has led to an uptick in home values and subsequent price increases, Newsday reported. The increasing valuations are a boon for sellers, but a looming burden for homeowners facing higher property taxes.<\/p>\n
Meanwhile, buyers nationwide have dropped to one of the lowest levels on Redfin\u2019s record books, second only to early-pandemic activity. There were 47% more home sellers than buyers in December, according to the report. <\/p>\n
The strongest buyer markets were located in the Sun Belt. <\/p>\n
Austin, Texas, in particular, saw an estimated 128% more sellers than buyers in December.<\/p>\n
Home prices remain out of reach for many first-time homebuyers, but modest declines in mortgage rates may draw more potential property owners into the ring in 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"Long Island property owners might be feeling like they\u2019ve scored a home run. The area was named the…\n","protected":false},"author":2,"featured_media":110746,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[14452,774,9,24,55,54,56,1491,3006],"class_list":["post-110745","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-long-island-real-estate","tag-nassau-county","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-real-estate","tag-residential-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/110745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=110745"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/110745\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/110746"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=110745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=110745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=110745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}