Is Mill Neck, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mill Neck has remained a Buyer's Market.
Key Takeaway
Mill Neck is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mill Neck, NY
How much do homes in Mill Neck, NY cost?
Median Sold Price
$2,199,500
$461/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mill Neck have sold for 26.7% less than they did a year ago.
Summary: The median home sold price in Mill Neck was $2,199,500 in May 2024, down 26.7% from last year, and the median price per square foot was $461.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $775K | $885K | +14.2% |
| 4 Bedrooms | $2.5M | $1.8M | -25.0% |
| 5+ Bedrooms | $4.9M | $3.6M | -27.9% |
Summary: Mill Neck housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 14.2%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 27.9%.
Median Sold Price Compared To Nearby Cities
| Oyster Bay | $724.1K | $775.5K | +7.1% |
| Mill Neck | $3.0M | $2.1M | -26.7% |
Housing Supply in Mill Neck, NY
How many homes are available in Mill Neck, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Summary: The Mill Neck real estate market had 17 homes for sale in May 2024, a 21.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 0 | 1 | +100.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Mill Neck 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mill Neck, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Mill Neck in May 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mill Neck, NY
How long does it take to sell a home in Mill Neck, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 74 Days | 119 Days | +60.8% |
Summary: Homes in Mill Neck had an average of 119 days on market in May 2024, up by 60.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Mill Neck are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 1 homes were sold in Mill Neck; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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.