Is Suffolk County, 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, Suffolk County was a Seller's Market.
Housing Prices in Suffolk County, NY
How much do homes in Suffolk County, NY cost?
Median Sold Price
$590,498
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Suffolk County was $590,498 in May 2024, up 7.4% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $265K | +12.8% |
2 Bedrooms | $410K | $438.9K | +7.1% |
3 Bedrooms | $520.2K | $560K | +7.6% |
4 Bedrooms | $612.9K | $660K | +7.7% |
5+ Bedrooms | $699.8K | $741.4K | +5.9% |
Summary: Suffolk County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.8%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Counties
Suffolk County | $549.9K | $590.4K | +7.4% |
Nassau County | $678.8K | $720.5K | +6.1% |
Housing Supply in Suffolk County, NY
How many homes are available in Suffolk County, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6,169 | 6,869 | +11.3% |
Summary: The Suffolk County real estate market had 6,869 homes for sale in May 2024, a 11.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 190 | 207 | +8.9% |
2 Bedrooms | 834 | 905 | +8.5% |
3 Bedrooms | 1,975 | 2,205 | +11.6% |
4 Bedrooms | 2,037 | 2,247 | +10.3% |
5+ Bedrooms | 1,133 | 1,305 | +15.2% |
Summary: The Suffolk County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 15.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
894 | 955 | +6.8% |
Asking Price vs. Sold Price
307 Homes Were Sold
Under Asking
122 Homes Were Sold
At Asking
526 Homes Were Sold
Over Asking
Summary: A total of 955 homes were sold or pending in Suffolk County in May 2024, up by 6.8% month-over-month. Of the 955 sold homes, 32% were sold under asking, 13% were sold at asking, and 55% were sold over asking.
Days on Market for Suffolk County, NY
How long does it take to sell a home in Suffolk County, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
59 Days | 54 Days | -7.9% |
Summary: Homes in Suffolk County had an average of 54 days on market in May 2024, down by 7.9% compared to last year.
Breakdown of Home Sale Times
568 Homes Were Sold
Under 30 Days
212 Homes Were Sold
In 30 - 90 Days
175 Homes Were Sold
Over 90 Days
Summary: During May 2024, 955 homes were sold in Suffolk County; 59% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.