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 February 2023

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

$600,000

$382/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$35,000(+6.2%)

Key Takeaway

Homes in Farmingdale have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Farmingdale was $600,000 in February 2024, up 6.2% from last year, and the median price per square foot was $382.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $260K$280K
+7.7%
2 $439K$450K
+2.5%
3 $589K$606K
+2.9%
4 $599.5K$639K
+6.6%
5+ $670K$655K
-2.2%

Summary: Farmingdale housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 2.2%.

Median Sold Price Compared To Nearby Cities

Farmingdale
+6.2%
Farmingdale
+6.2%
Oyster Bay
+5.4%
Huntington
+2.8%

Housing Supply in Farmingdale, NY

How many homes are available in Farmingdale, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
8091+13.8%

Summary: The Farmingdale real estate market had 91 homes for sale in February 2024, a 13.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1115
+36.4%
2 55
0.0%
3 2124
+14.3%
4 3336
+9.1%
5+ 1011
+10.0%

Summary: The Farmingdale housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.4%, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was 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. 50% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Farmingdale in February 2024, up by 7.7% month-over-month. Of the 14 sold homes, 43% were sold under asking, 7% were sold at asking, and 50% 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

Feb 2023Feb 2024CHANGE
67 Days81 Days+21.4%

Summary: Homes in Farmingdale had an average of 81 days on market in Feb 2024, up by 21.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were 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 February 2024, 14 homes were sold in Farmingdale; 57% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% 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 18 Days Ago

Newest Listings in Farmingdale, NY

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