Is Farmingdale, 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, Farmingdale has remained a Seller's Market.
Key Takeaway
Farmingdale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farmingdale, NY
How much do homes in Farmingdale, NY cost?
Median Sold Price
$614,186
$388/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Farmingdale have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Farmingdale was $614,186 in May 2024, up 8.7% from last year, and the median price per square foot was $388.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270K | $266K | -1.5% |
| 2 Bedrooms | $450K | $467.5K | +3.9% |
| 3 Bedrooms | $587.5K | $619K | +5.4% |
| 4 Bedrooms | $600K | $650K | +8.3% |
| 5+ Bedrooms | $677K | $676.5K | -0.1% |
Summary: Farmingdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Cities
| Farmingdale | $565K | $615.5K | +8.9% |
| Farmingdale | $565K | $614.1K | +8.7% |
| Oyster Bay | $724.1K | $775.5K | +7.1% |
Housing Supply in Farmingdale, NY
How many homes are available in Farmingdale, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 111 | 122 | +9.9% |
Summary: The Farmingdale real estate market had 122 homes for sale in May 2024, a 9.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 25 | 21 | -16.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 32 | 38 | +18.8% |
| 4 Bedrooms | 39 | 43 | +10.3% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Farmingdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 21 | +31.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmingdale, you could pay more than the asking price. 76.2% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Farmingdale in May 2024, up by 31.3% month-over-month. Of the 21 sold homes, 19% were sold under asking, 5% were sold at asking, and 76% were sold over asking.
Days on Market for Farmingdale, NY
How long does it take to sell a home in Farmingdale, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 47 Days | +73.1% |
Summary: Homes in Farmingdale had an average of 47 days on market in May 2024, up by 73.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Farmingdale are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Farmingdale; 57% of homes were sold within 30 days, 29% 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.