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.
Housing Prices in Farmingdale, NY
How much do homes in Farmingdale, NY cost?
Median Sold Price
$615,500
$389/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Farmingdale was $615,500 in May 2024, up 8.9% from last year, and the median price per square foot was $389.
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% |
Huntington | $724.9K | $779.7K | +7.6% |
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 |
---|---|---|
112 | 123 | +9.8% |
Summary: The Farmingdale real estate market had 123 homes for sale in May 2024, a 9.8% 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 | 10 | 13 | +30.0% |
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 30%.
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
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
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.