Is Lake Success, 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, Lake Success has remained a Buyer's Market.
Key Takeaway
Lake Success is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake Success, NY
How much do homes in Lake Success, NY cost?
Median Sold Price
$1,650,000
$546/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Lake Success has remained the same since last year.
Summary: The median home sold price in Lake Success was $1,650,000 in May 2024, the same as last year, and the median price per square foot was $546.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $1.1M | $1.5M | +40.9% |
| 4 Bedrooms | $1.3M | $1.5M | +14.6% |
| 5+ Bedrooms | $1.9M | $2.1M | +12.1% |
Summary: Lake Success 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 40.9%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 12.1%.
Median Sold Price Compared To Nearby Cities
| North Hempstead | $869K | $949K | +9.2% |
| North Hills | $1.5M | $1.5M | +4.8% |
| Lake Success | $1.6M | $1.6M | 0.0% |
Housing Supply in Lake Success, NY
How many homes are available in Lake Success, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 17 | -5.6% |
Summary: The Lake Success real estate market had 17 homes for sale in May 2024, a 5.6% decrease 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 | 5 | 4 | -20.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Lake Success 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 decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Success, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Lake Success in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lake Success, NY
How long does it take to sell a home in Lake Success, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 12 Days | -16.7% |
Summary: Homes in Lake Success had an average of 12 days on market in May 2024, down by 16.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Success are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Lake Success; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.