$10,000 Closing Credit*
$1,099,000
3 Beds
•3 Full Baths
Listing Office: Signature Premier Properties
Is Melville, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Melville has remained a Seller's Market.
Key Takeaway
Melville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Melville, NY
How much do homes in Melville, NY cost?
Median Sold Price
$900,000
$448/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$135,556(+17.7%)
Key Takeaway
Homes in Melville have sold for 17.7% more than they did a year ago.
Summary: The median home sold price in Melville was $900,000 in October 2024, up 17.7% from last year, and the median price per square foot was $448.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $585K | $700K | +19.7% |
| 3 Bedrooms | $780K | $859K | +10.1% |
| 4 Bedrooms | $815K | $999K | +22.6% |
| 5+ Bedrooms | $1.4M | $1.4M | 0.0% |
Summary: Melville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| West Hills | $725K | $897.5K | +23.8% |
| Melville | $764.4K | $900K | +17.7% |
| South Huntington | $595K | $683.5K | +14.9% |
| Old Bethpage | $869.7K | $980K | +12.7% |
| Wheatley Heights | $620K | $665K | +7.3% |
Housing Supply in Melville, NY
How many homes are available in Melville, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 97 | 87 | -10.3% |
Summary: The Melville real estate market had 87 homes for sale in October 2024, a 10.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 25 | 21 | -16.0% |
| 3 Bedrooms | 29 | 26 | -10.3% |
| 4 Bedrooms | 22 | 15 | -31.8% |
| 5+ Bedrooms | 21 | 25 | +19.0% |
Summary: The Melville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes decreased by 31.8%, and 5+ bedroom homes increased by 19%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 17 | -34.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Melville, you may be able to get a good deal. 64.7% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Melville in October 2024, down by 34.6% month-over-month. Of the 17 sold homes, 65% were sold under asking, 24% were sold at asking, and 12% were sold over asking.
Days on Market for Melville, NY
How long does it take to sell a home in Melville, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 33 Days | +29.9% |
Summary: Homes in Melville had an average of 33 days on market in Oct 2024, up by 29.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Melville are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in Melville; 59% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 6% 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.