Nassau County Bank-Owned Homes & Foreclosures

By Educators Realty · Syosset, NY · Educators Realty

Bank-owned properties — often called REOs, short for "real estate owned" — give Nassau County buyers a distinct way into the market. These are homes that reverted to a lender after a completed foreclosure, and they're now being resold, typically through the local MLS just like any other listing. Because pricing, condition, and terms can vary widely from one bank-owned property to the next, buyers who understand how this segment of the market behaves tend to make faster, more confident decisions. This guide walks through what's currently available across Nassau County, what the recently closed bank-owned and foreclosure sales tell us about pricing and pace, and how to approach a purchase in this category the right way.

REO, Foreclosure, and Short Sale: Why the Terms Matter

These terms get used interchangeably, but they describe different stages of the same process. A pre-foreclosure or short sale is still owned by the original homeowner, who is selling with lender approval, often for less than what's owed on the mortgage. An REO, or bank-owned property, is a home the lender has already taken back through foreclosure and now owns outright. Some of the properties in Nassau County's current inventory are also being sold at auction, which comes with its own bidding process, deposit requirements, and buyer's premium.

Knowing which category a listing falls into changes how an offer gets structured, how quickly a lender is likely to respond, and what kind of inspection contingencies are realistic. A buyer's agent who works in this space regularly can help sort through which approach fits a given property.

What Nassau County's Current Bank-Owned Inventory Looks Like

As of this writing, Educators Realty's Nassau County bank-owned and foreclosure inventory includes 45 active listings, with asking prices ranging from $335,000 for a one-bedroom co-op in Rockville Centre up to $2,900,000 for a property in Hicksville. The median asking price across the current inventory is $729,999, and the average is roughly $840,000 — a spread wide enough that this segment includes everything from entry-level condos to multi-million-dollar estates.

Where the Listings Are Concentrated

Listings are spread across more than 20 Nassau County communities rather than clustered in one or two towns. Hempstead currently has the most bank-owned listings (5), followed by Westbury and Baldwin (4 each) and Freeport (3). Smaller pockets of activity appear in Glen Cove, Levittown, Rockville Centre, Hicksville, Massapequa, and Elmont (2 each), with single listings found in communities including Williston Park, Long Beach, Muttontown, East Hills, Old Westbury, Farmingdale, Uniondale, West Hempstead, Garden City, Island Park, Roslyn, N. Merrick, Wantagh, Malverne, E. Rockaway, Gibson, and Point Lookout.

Property Styles and Features

Colonial-style homes make up the largest share of the current inventory, followed by Ranch and Cape Cod-style homes, with a handful of Hi-Ranch, Split-level, Tudor, and Bungalow properties rounding out the mix. A garage is mentioned in more than half of the current listing descriptions (25 of 45), and most of the single-family inventory includes a formal dining room and/or full basement, based on the listing descriptions provided.

A Range of Buyer Scenarios

The current inventory covers a range of buyer scenarios. On the water, there's a one-bedroom waterview condo in Freeport and a renovated, FEMA-compliant waterfront Colonial in Island Park. For land or ground-up projects, there's a vacant land listing in Long Beach. One Hempstead property is listed as part of an upcoming auction, subject to a buyer's premium, and a Baldwin property is described as owner-motivated with openness to a lease-option or leaseback arrangement. At the upper end, buyers will find a luxury Ranch estate in Muttontown listed at $1,330,000, along with multi-million-dollar listings in Old Westbury, East Hills, Roslyn, and Hicksville.

What Recently Closed Bank-Owned Sales Tell Us

A separate closed-sales report covering 197 recently completed bank-owned and foreclosure transactions across Nassau County shows an average closing price of $686,270, with sales closing at roughly 100% of the original list price on average — though individual ratios varied, with some properties closing below list and others above, particularly land or unusual condition properties. Closed bank-owned sales were most concentrated in Hempstead (17 closings), followed by Freeport and Elmont (13 each), and Baldwin and Valley Stream (11 each), which roughly tracks the towns most represented in the current active inventory as well. Closings were recorded in every month across the report period, with November standing out as the busiest single month (20 closings).

45Active Bank-Owned Listings

$335K–$2.9MCurrent Price Range

$686,270Avg. Recent Closed Price

~67 DaysAvg. Days on Market (Closed)

~100%Avg. Close-to-List Ratio

Nassau County Bank-Owned & Foreclosure Properties Currently Listed

The listings below reflect current bank-owned and foreclosure inventory in Nassau County. Each property links directly to its full detail page, including additional photos and disclosures.

15 Stratford Avenue, Williston Park

$880,000

3 Beds | 2 Baths

Move right into this 3 bedroom, Colonial style home, with full basement, 1-car garage, updated designer kitchen w/ quartz counters and stainless-steel appliance, updated ...

MLS #1039973 · Courtesy of OneKey MLS

Nassau County Bank-Owned Homes & Foreclosures: September 2026 Buyer's Guide to Current REO Inventory

REO, Foreclosure, and Short Sale: Why the Terms Matter

What Nassau County's Current Bank-Owned Inventory Looks Like

Where the Listings Are Concentrated

Property Styles and Features

A Range of Buyer Scenarios

What Recently Closed Bank-Owned Sales Tell Us

Nassau County Bank-Owned & Foreclosure Properties Currently Listed

Tips for Buying a Bank-Owned Property in Nassau County

Work With a Local Resource for Nassau County Bank-Owned Homes

Ask About a Nassau County Bank-Owned Property

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