August 2025 Suffolk County Real Estate Report

🏖️ Suffolk County Real Estate Market Snapshot – August 2025

(Friendly heads-up tailored for Ronkonkoma, Patchogue, Huntington, Smithtown—if you’ve spent at least one Long Island summer day at the beaches, this is for you.)

🔢 Key Metrics – July 2025 vs. Year‑Ago / Pepper Comparisons

MetricJuly 2025 (latest)YoY ChangeJune 2025NotesMedian sale price$654,531+ 8.4 %~ $678KRocket Homes press release shows steady heat, though June still edged slightly higher AP NewsMedian days on market58+ 6 %55 daysAccording to Realtor.com (FRED), homes now stay listed a week longer compared with this time last year FREDActive listings (available homes)4,137+ 3.2 % from June4,008Realtor.com (FRED data) indicates a fresh but modest rise in inventory FREDSales volume––~1,085 homes closedFrom Redfin’s data—implied months‑supply ≈ 3.8 (tight but easing) Redfin

• Why it matters:
  • August median closing price is the lowest since May 2025 but still significantly above last summer.
  • Though inventory rose slightly, supply remains low compared to pre‑2021 norms (typically 4–5 months).
  • Buyers now have an average of 58 days to make decisions—less urgency than spring bidding wars, but doing nothing may put you behind the curve.

💰 Mortgage Rate Context

• National average 30‑year fixed mortgage rate slid slightly to 6.72 % last week, according to Freddie Mac via AP News. While this offers modest relief from mid‑January’s 7.0 % highs, rates are still well above the sub‑4 % days of 2021 and 2022 AP News.

• The National Association of Realtors (NAR) forecasts that average 30‑year rates for 2025 may land around 6.0 % — meaning buyers who lock in soon could beat market projections & save over hundreds monthly on $650K‑priced homes reuters.com.

🧭 Local Insights & Takeaways

For Homebuyers

• More choices, same competition: Inventory is edging up—but with 4,137 active listings and a 3.8‑month supply, buyers still face stiff competition for well-priced homes.

• Use the time wisely: Median listing time is up to 58 days, so now’s a good moment to secure financing, inspect unstaged properties, and pursue contingencies—bidding wars are cooler but can flare quickly.

• Rate-watch & lock accordingly: If you're happy with a 6.7 % rate or better, locking now could be smarter than waiting for uncertain drops to 6 %.

For Homeowners / Sellers

• Pricing still tastes sweet: At a median closing price of $654K—and up 8 % Y/Y—you’re still riding seller-climate favorability.

• Preparation pays off: Since houses are averaging nearly 60 days on the market, a well-kept, properly staged home priced competitively sells more predictably than one over‑priced for weeks.

• Think beyond listing: Home equity is high; many buyers are trading up. Consider listing now to give yourself 3–6 months to cherry‑pick the next home as rates stay north of 6.5 %.

🗓️ What’s Coming in August and Beyond?

While summer buyer activity typically slows, Long Island’s 2nd‑quarter report saw median single‑family prices just above $700K (excluding Hamptons/North Fork) — a reminder motivation stays strong in sustainable pockets of the market longislandinsider.com.
If the Federal Reserve keeps short-term rates steady and long-term yields dip slightly, June‑to‑September may be your most predictable window to buy or sell before winter fluctuations.

🔑 Ready to Make a Move?

– Buyers: Want help comparing payments at 6.72% vs. future rates, or identifying pre‑approval strategies? Let’s chat.
– Sellers: Curious what $654K median means for your home in [town]—maybe even above median with the right presentation? Message me for a free valuation and sale-plan discussion.

Whether you're selling a beach bungalow in Water Mill or looking to move from Oakdale to Smithtown, I’m local and happy to offer neighborhood-specific insight—no cost, no obligation.

Enjoy your August—cheers to progress, not perfection, during these warm Long Island sunsets!

#SuffolkCounty #LongIslandHomes #RealEstateUpdate #BuyersMarket #SellersMarket #LocalExpertosterone