Is Farmingdale, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Farmingdale is a neutral's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Farmingdale was a Buyer's Market.

Key Takeaway

Farmingdale is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Farmingdale, NY

How much do homes in Farmingdale, NY cost?

Median Sold Price

$595,000

$378/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$26,500(+4.7%)

Key Takeaway

Homes in Farmingdale have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Farmingdale was $595,000 in January 2024, up 4.7% from last year, and the median price per square foot was $378.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $260K$275K
+5.8%
2 $444.5K$450K
+1.2%
3 $585K$601K
+2.7%
4 $600K$635K
+5.8%
5+ $655K$661.5K
+1.0%

Summary: Farmingdale housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Cities

Farmingdale
+5.2%
Oyster Bay
+5.1%
Farmingdale
+4.7%

Housing Supply in Farmingdale, NY

How many homes are available in Farmingdale, NY?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
7578+4.0%

Summary: The Farmingdale real estate market had 78 homes for sale in January 2024, a 4.0% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 811
+37.5%
2 65
-16.7%
3 2621
-19.2%
4 2731
+14.8%
5+ 810
+25.0%

Summary: The Farmingdale housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 19.2%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
1612-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Farmingdale, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Farmingdale in January 2024, down by 25.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.

Days on Market for Farmingdale, NY

How long does it take to sell a home in Farmingdale, NY?

Average Sale Time

Jan 2023Jan 2024CHANGE
78 Days27 Days-64.3%

Summary: Homes in Farmingdale had an average of 27 days on market in Jan 2024, down by 64.3% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Farmingdale are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 12 homes were sold in Farmingdale; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

Newest Listings in Farmingdale, NY

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