$10,000 Closing Credit*
$1,348,888
2,800 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Douglas Elliman Real Estate
Is Melville, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Melville was a Seller's Market.
Key Takeaway
Melville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Melville, NY
How much do homes in Melville, NY cost?
Median Sold Price
$900,000
$444/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$120,000(+15.4%)
Key Takeaway
Homes in Melville have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Melville was $900,000 in November 2024, up 15.4% from last year, and the median price per square foot was $444.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $587.5K | $699.4K | +19.1% |
| 3 Bedrooms | $802.5K | $854.5K | +6.5% |
| 4 Bedrooms | $815K | $1.0M | +25.8% |
| 5+ Bedrooms | $1.3M | $1.5M | +14.0% |
Summary: Melville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Neighborhoods
| West Hills | $725K | $934.9K | +29.0% |
| Old Bethpage | $877.5K | $1.0M | +20.2% |
| Melville | $780K | $900K | +15.4% |
| South Huntington | $607.5K | $690K | +13.6% |
| Wheatley Heights | $636.7K | $660K | +3.7% |
Housing Supply in Melville, NY
How many homes are available in Melville, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 83 | 76 | -8.4% |
Summary: The Melville real estate market had 76 homes for sale in November 2024, a 8.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 19 | -9.5% |
| 3 Bedrooms | 25 | 24 | -4.0% |
| 4 Bedrooms | 14 | 12 | -14.3% |
| 5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Melville housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.5%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 9 | -47.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Melville, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Melville in November 2024, down by 47.1% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 33 Days | +2.0% |
Summary: Homes in Melville had an average of 33 days on market in Nov 2024, up by 2% compared to last year.
Breakdown of Home Sale Times
6 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 Melville are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in Melville; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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.