$9,239 Closing Credit*
$778,000
5 Beds
•2 Full Baths
Listing Office: P R O Links Realty Inc
Is Lake Grove, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Lake Grove was a Seller's Market.
Key Takeaway
Lake Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake Grove, NY
How much do homes in Lake Grove, NY cost?
Median Sold Price
$625,000
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$25,000(+4.2%)
Key Takeaway
Homes in Lake Grove have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Lake Grove was $625,000 in September 2024, up 4.2% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $337.5K | N/A |
| 2 Bedrooms | $486.2K | $475K | -2.3% |
| 3 Bedrooms | $517.5K | $594K | +14.8% |
| 4 Bedrooms | $650K | $673.7K | +3.7% |
| 5+ Bedrooms | $664.5K | $722.5K | +8.7% |
Summary: Lake Grove housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Brookhaven | $479.3K | $538.9K | +12.4% |
| Smithtown | $665K | $718.7K | +8.1% |
| Lake Grove | $600K | $625K | +4.2% |
Housing Supply in Lake Grove, NY
How many homes are available in Lake Grove, NY?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 65 | 56 | -13.8% |
Summary: The Lake Grove real estate market had 56 homes for sale in September 2024, a 13.8% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 28 | 24 | -14.3% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The Lake Grove housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 17 | 7 | -58.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Grove, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Lake Grove in September 2024, down by 58.8% month-over-month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% were sold over asking.
Days on Market for Lake Grove, NY
How long does it take to sell a home in Lake Grove, NY?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 28 Days | 30 Days | +5.3% |
Summary: Homes in Lake Grove had an average of 30 days on market in Sep 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Grove are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 7 homes were sold in Lake Grove; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% 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.