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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Farmingdale is a buyer's market

Buyer's
Market

Difference Since January 2022

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

Key Takeaway

Farmingdale is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Farmingdale, NY cost?

Median Sold Price

$476,500

$343/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

-$39,750(-7.7%)

Key Takeaway

Homes in Farmingdale have sold for 7.7% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $278K$240.5K
-13.5%
2 $455K$379K
-16.7%
3 $551K$569K
+3.3%
4 $615K$635K
+3.3%
5+ $725K$835K
+15.2%

Median Sold Price Compared To Nearby Cities

Oyster Bay
+6.6%
Farmingdale
+3.5%
Farmingdale
-7.7%

How many homes are available in Farmingdale, NY?

Number of Homes For Sale

Dec 2022Jan 2023%
3230-6.3%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 1312
-7.7%
2 34
+33.3%
3 95
-44.4%
4 56
+20.0%
5+ 23
+50.0%

Number of Homes Sold

Dec 2022Jan 2023%
82-75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Farmingdale, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
32 Days158 Days+386.6%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Farmingdale has remained consistent over time.

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

About Farmingdale, NY

Farmingdale, NY has 30 homes for sale to choose from. In January 2023 in Farmingdale, NY there were 6.3% less homes for sale than in December 2022. The median list price of listings available in January 2023 was $476,500, while the average time on the real estate market was 158 days. Listing prices have changed in this real estate market between December 2022 and January 2023: prices of 1 bedroom properties went down by 13.5%, 2 bedrooms properties became 16.7% more cheaper, prices of 3 bedrooms properties increased by 3.3%, prices of 4 bedrooms properties went up by 3.3%, 5 bedrooms properties became 15.2% more expensive. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory decreased by 7.7%, volume of 2 bedrooms homes went up by 33.3%, 3 bedrooms homes became 44.4% less available, 4 bedrooms homes became 20% more available, 5 bedrooms homes became 50% more available. Over 1 listings were sold over their listed price in January 2023 in Farmingdale, NY. In the same period over 1 listings were sold below the listed price and 0 listings were sold for the listed price.

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