Is Smithtown, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Smithtown was a Seller's Market.
Housing Prices in Smithtown, NY
How much do homes in Smithtown, NY cost?
Median Sold Price
$697,222
$352/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Smithtown was $697,222 in May 2024, up 7.3% from last year, and the median price per square foot was $352.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $330K | $387.5K | +17.4% |
2 Bedrooms | $480K | $520K | +8.3% |
3 Bedrooms | $611.3K | $642K | +5.0% |
4 Bedrooms | $700K | $750.2K | +7.2% |
5+ Bedrooms | $850K | $850K | 0.0% |
Summary: Smithtown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Smithtown | $649.9K | $697.2K | +7.3% |
Lake Grove | $600K | $622K | +3.7% |
Village of the Branch | $720K | $745K | +3.5% |
Head of the Harbor | $1.1M | $1.1M | +2.9% |
Nissequogue | $1.1M | $1.1M | 0.4% |
Housing Supply in Smithtown, NY
How many homes are available in Smithtown, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
408 | 467 | +14.5% |
Summary: The Smithtown real estate market had 467 homes for sale in May 2024, a 14.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 9 | 0.0% |
2 Bedrooms | 32 | 29 | -9.4% |
3 Bedrooms | 117 | 126 | +7.7% |
4 Bedrooms | 176 | 207 | +17.6% |
5+ Bedrooms | 74 | 96 | +29.7% |
Summary: The Smithtown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 29.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
72 | 77 | +6.9% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in Smithtown in May 2024, up by 6.9% month-over-month. Of the 77 sold homes, 32% were sold under asking, 17% were sold at asking, and 51% were sold over asking.
Days on Market for Smithtown, NY
How long does it take to sell a home in Smithtown, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
56 Days | 30 Days | -45.4% |
Summary: Homes in Smithtown had an average of 30 days on market in May 2024, down by 45.4% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 77 homes were sold in Smithtown; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.