$7,113 Closing Credit*
$599,000
5 Beds
•1 Full Bath
Listing Office: RE/MAX Signature Real Estate
Is Lake Grove, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Lake Grove was a Seller's Market.
Key Takeaway
Lake Grove is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lake Grove, NY
How much do homes in Lake Grove, NY cost?
Median Sold Price
$635,000
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$38,750(+6.5%)
Key Takeaway
Homes in Lake Grove have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Lake Grove was $635,000 in October 2024, up 6.5% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $325K | -7.1% |
| 2 Bedrooms | $486.2K | $475K | -2.3% |
| 3 Bedrooms | $518K | $594K | +14.7% |
| 4 Bedrooms | $649K | $679K | +4.6% |
| 5+ Bedrooms | $660K | $765K | +15.9% |
Summary: Lake Grove housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.1%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 15.9%.
Median Sold Price Compared To Nearby Cities
| Brookhaven | $480.3K | $542.2K | +12.9% |
| Smithtown | $665K | $725.4K | +9.1% |
| Lake Grove | $596.2K | $635K | +6.5% |
Housing Supply in Lake Grove, NY
How many homes are available in Lake Grove, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 55 | 54 | -1.8% |
Summary: The Lake Grove real estate market had 54 homes for sale in October 2024, a 1.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The Lake Grove housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Grove, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Lake Grove in October 2024, up by 14.3% month-over-month. Of the 8 sold homes, 0% were sold under asking, 13% were sold at asking, and 88% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 33 Days | 0.4% |
Summary: Homes in Lake Grove had an average of 33 days on market in Oct 2024, up by 0.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lake Grove are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Lake Grove; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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.