Is Lake Ronkonkoma, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lake Ronkonkoma was a Seller's Market.
Key Takeaway
Lake Ronkonkoma 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 Lake Ronkonkoma, NY
How much do homes in Lake Ronkonkoma, NY cost?
Median Sold Price
$560,000
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lake Ronkonkoma have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Lake Ronkonkoma was $560,000 in March 2024, up 7.7% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $385K | $368.6K | -4.2% |
| 2 Bedrooms | $415K | $430K | +3.6% |
| 3 Bedrooms | $499.5K | $530K | +6.1% |
| 4 Bedrooms | $542.5K | $615K | +13.4% |
| 5+ Bedrooms | $630K | $700K | +11.1% |
Summary: Lake Ronkonkoma housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 11.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Lake Ronkonkoma | $520K | $560K | +7.7% |
| Centereach | $501.3K | $540K | +7.7% |
| Nesconset | $630K | $672.5K | +6.7% |
| Ronkonkoma | $507.5K | $532.5K | +4.9% |
| Holbrook | $540K | $565K | +4.6% |
Housing Supply in Lake Ronkonkoma, NY
How many homes are available in Lake Ronkonkoma, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 46 | +12.2% |
Summary: The Lake Ronkonkoma real estate market had 46 homes for sale in March 2024, a 12.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 13 | 20 | +53.8% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Lake Ronkonkoma housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Ronkonkoma, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Lake Ronkonkoma in March 2024, the same as the previous month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Lake Ronkonkoma, NY
How long does it take to sell a home in Lake Ronkonkoma, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 35 Days | -49.3% |
Summary: Homes in Lake Ronkonkoma had an average of 35 days on market in Mar 2024, down by 49.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Ronkonkoma has remained consistent over time.
Summary: During March 2024, 7 homes were sold in Lake Ronkonkoma; 43% of homes were sold within 30 days, 57% 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.