Spring is in full swing on Long Island, and the real estate market is still moving. Whether you are thinking about buying, selling, or simply keeping an eye on home values in Smithtown, Suffolk County, Nassau County, and the surrounding North Shore communities, here is what you need to know this week.

Home Prices Continue to Climb

Long Island home prices are still pushing higher.

In Suffolk County, the median single-family home price reached $714,900 in April, up 6.7% from April 2025 and surpassing the $700,000 median recorded in March.

In Nassau County, the median single-family home price reached $852,000, up 7.8% year over year.

Here in Smithtown, the market remains highly competitive. According to Redfin’s latest three-month market snapshot ending in April 2026, the median sale price in Smithtown was approximately $853,559, up 6.7% from the same period last year. The median sale price per square foot was $428, up 16.5% year over year.

The takeaway is simple: homeowners are still sitting on strong equity, and buyers are still competing for well-priced homes.

Inventory Is Improving, But Still Tight

There is some cautiously good news for buyers. Long Island inventory improved this spring after hitting extremely low levels earlier in the year.

At the end of April, there were 5,971 homes listed for sale across Nassau and Suffolk, including single-family homes, condos, and co-ops. That was up from 4,637 in March, which means buyers had more options than they did just one month earlier.

But let’s not confuse “better” with “balanced.” Inventory is still limited, and well-priced homes are continuing to attract serious attention.

One reason supply remains tight is the mortgage rate lock-in effect. Many homeowners refinanced or purchased when rates were much lower and are hesitant to give up a 3% or 4% mortgage for today’s rate environment. That keeps some would-be sellers on the sidelines.

Homes Are Still Moving Quickly

Smithtown remains a very competitive market.

Redfin’s April 2026 snapshot shows Smithtown homes selling in about 23 days on market, compared to 24 days during the same period last year. The market is not slowing down in any meaningful way, especially for homes priced correctly and that show well.

Smithtown’s sale-to-list ratio is also strong, with Redfin reporting homes selling at approximately 102.5% of list price. That means many homes are still selling above asking.

The message for buyers is clear: be prepared before you walk through the door. Have your financing ready, understand your numbers, and be ready to act when the right home hits the market.

Buyer Demand Remains Strong

Despite mortgage rates and affordability challenges, buyer demand has not disappeared.

Across Long Island, pending sales reached 2,180 in April, up more than 7% from the 2,031 pending sales recorded in April 2025. That tells us motivated buyers are still active.

Closed sales tell a slightly different story. There were 1,426 closed Long Island home sales in April, down nearly 11% from the 1,597 closings recorded in April 2025. But that does not necessarily mean buyers have vanished. It points more toward limited inventory and affordability pressure.

The buyers are still there. The challenge is that there aren't enough homes to meet demand.

Mortgage Rate Check-In

Mortgage rates remain one of the biggest forces shaping the market.

According to Freddie Mac, the average 30-year fixed mortgage rate was 6.53% as of May 28, 2026, up slightly from 6.51% the prior week. The 15-year fixed rate was 5.87%.

A year earlier, the 30-year fixed rate was 6.89%, so rates are lower than they were at this time last year, but they are still high enough to impact affordability and seller behavior.

Rates are influencing everything: what buyers can afford, whether sellers choose to move, and how much inventory comes to market.

Notable Recent Sales in the Smithtown Area

Here is a look at several homes that recently closed near Smithtown:

| Location | Address | Price | Beds/Baths | Closed |
| Kings Park | 23 Bowman Lane | $740,000 | 4 BR / 2 BA | May 26 |
| Kings Park | 4 Winslow Lane | $840,000 | 5 BR / 2.5 BA | May 21 |
| Kings Park | 185 Birch Road | $765,000 | 4 BR / 2 BA | May 21 |
| Commack | 8 Leeward Lane | $825,000 | 3 BR / 1.5 BA | May 27 |
| Commack | 4 Bethal Lane | $877,000 | 4 BR / 2.5 BA | May 21 |
| Commack | 5 Plum Tree Lane | $775,000 | 4 BR / 2.5 BA | May 22 |
| Nesconset | 18 Canterbury Lane | $850,000 | 3 BR / 2 BA | May 7 |

These sales reinforce what we are seeing across the market: strong prices, steady buyer activity, and competitive conditions in many pockets of the Smithtown area.

What This Means for You

If you are a seller, this is still a strong market. Inventory remains limited, buyer demand is active, and correctly priced homes are still attracting attention quickly. The key is not just listing the home, it is launching it with the right pricing, presentation, and marketing strategy.

If you are a buyer, do not let the headlines scare you off. Yes, affordability is challenging, but inventory has improved from the winter lows, and serious buyers are still finding opportunities. The key is preparation. Get pre-approved, know your comfort zone, and be ready to move when the right property comes along.

If you are a homeowner, your home may be worth more than you think. Long Island prices have continued to rise, and many homeowners have built substantial equity over the past several years. Whether you are thinking about selling, downsizing, refinancing, or just planning ahead, now is a smart time to understand your numbers.

The Bottom Line

Inventory improved this spring, but Long Island is still not in a balanced market. Prices are up, pending sales are up, and properly priced homes are still moving.

For sellers, the opportunity is still strong, but overpricing can cost you momentum.

For buyers, preparation matters. The best homes are still moving quickly, and hesitation can be expensive.

Have questions about the market or wondering what your home is worth? I would be happy to help.

Sources: OneKey MLS, Long Island Business News, Freddie Mac Primary Mortgage Market Survey, Redfin, public MLS-syndicated property records.