Is Patchogue, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Patchogue has remained a Seller's Market.
Key Takeaway
Patchogue is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Patchogue, NY
How much do homes in Patchogue, NY cost?
Median Sold Price
$510,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Patchogue have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in Patchogue was $510,000 in May 2024, up 12.1% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $240K | +9.1% |
| 2 Bedrooms | $385K | $445K | +15.6% |
| 3 Bedrooms | $475K | $525K | +10.5% |
| 4 Bedrooms | $560K | $577.5K | +3.1% |
| 5+ Bedrooms | $515K | $575K | +11.7% |
Summary: Patchogue housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Patchogue | $455K | $510K | +12.1% |
| Brookhaven | $474.2K | $515K | +8.6% |
Housing Supply in Patchogue, NY
How many homes are available in Patchogue, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 122 | 136 | +11.5% |
Summary: The Patchogue real estate market had 136 homes for sale in May 2024, a 11.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 15 | +7.1% |
| 2 Bedrooms | 25 | 29 | +16.0% |
| 3 Bedrooms | 41 | 46 | +12.2% |
| 4 Bedrooms | 35 | 40 | +14.3% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Patchogue housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 28 | +55.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Patchogue, you could pay more than the asking price. 82.1% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Patchogue in May 2024, up by 55.6% month-over-month. Of the 28 sold homes, 14% were sold under asking, 4% were sold at asking, and 82% were sold over asking.
Days on Market for Patchogue, NY
How long does it take to sell a home in Patchogue, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 41 Days | +7.7% |
Summary: Homes in Patchogue had an average of 41 days on market in May 2024, up by 7.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Patchogue are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 28 homes were sold in Patchogue; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.