$10,000 Closing Credit*
$1,300,000
1,300 SqFt
2 Beds
•2 Full Baths
Listing Office: Douglas Elliman Real Estate
Is Southold, 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, Southold was a Seller's Market.
Key Takeaway
Southold is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southold, NY
How much do homes in Southold, NY cost?
Median Sold Price
$999,505
$547/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$7,494(-0.7%)
Key Takeaway
Homes in Southold have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in Southold was $999,505 in November 2024, down 0.7% from last year, and the median price per square foot was $547.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $625K | $290K | -53.6% |
| 2 Bedrooms | $702.5K | $673.5K | -4.1% |
| 3 Bedrooms | $920K | $970K | +5.4% |
| 4 Bedrooms | $1.4M | $1.2M | -13.4% |
| 5+ Bedrooms | $2.1M | $2.2M | +5.8% |
Summary: Southold housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53.6%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 13.4%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Greenport | $890K | $1.0M | +19.1% |
| Southold | $1.0M | $999.5K | -0.7% |
Housing Supply in Southold, NY
How many homes are available in Southold, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 253 | 248 | -2.0% |
Summary: The Southold real estate market had 248 homes for sale in November 2024, a 2.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 36 | 34 | -5.6% |
| 3 Bedrooms | 101 | 93 | -7.9% |
| 4 Bedrooms | 74 | 77 | +4.1% |
| 5+ Bedrooms | 37 | 39 | +5.4% |
Summary: The Southold 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 5.6%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 34 | +30.8% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southold, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Southold in November 2024, up by 30.8% month-over-month. Of the 34 sold homes, 71% were sold under asking, 12% were sold at asking, and 18% were sold over asking.
Days on Market for Southold, NY
How long does it take to sell a home in Southold, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 77 Days | 92 Days | +19.7% |
Summary: Homes in Southold had an average of 92 days on market in Nov 2024, up by 19.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Southold are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 34 homes were sold in Southold; 26% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 53% 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.