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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Patchogue is a buyer's market

Buyer's
Market

Difference Since October 2021

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

Key Takeaway

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

How much do homes in Patchogue, NY cost?

Median Sold Price

$435,000

$270/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$23,000(+5.6%)

Key Takeaway

Homes in Patchogue have sold for 5.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $202.4K$210.5K
+4.0%
2 $360K$400K
+11.1%
3 $425K$477.5K
+12.4%
4 $457K$520K
+13.8%
5+ $475K$550K
+15.8%

Median Sold Price Compared To Nearby Cities

Brookhaven
+9.4%
Patchogue
+5.6%

How many homes are available in Patchogue, NY?

Number of Homes For Sale

Sep 2022Oct 2022%
7673-3.9%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 1617
+6.3%
2 1311
-15.4%
3 2419
-20.8%
4 1616
0.0%
5+ 710
+42.9%

Number of Homes Sold

Sep 2022Oct 2022%
1510-33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Patchogue, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
30 Days35 Days+15.6%

Breakdown of Home Sale Times

6 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 Patchogue are selling fast, if you're buying plan to act quickly.

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

About Patchogue, NY

Patchogue, NY has 73 homes for sale to choose from. The number of listings in Patchogue, NY decreased by 3.9% between September 2022 and October 2022. The median list price of listings available in October 2022 was $435,000, while the average time on the real estate market was 35 days. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 4%, prices of 2 bedrooms properties went up by 11.1%, 3 bedrooms properties became 12.4% more expensive, 4 bedrooms properties became 13.8% more expensive, 5 bedrooms properties prices increased by 15.8%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory increased by 6.3%, volume of 2 bedrooms homes went down by 15.4%, 3 bedrooms homes inventory decreased by 20.8%, volume of 4 bedrooms homes stayed the same, volume of 5 bedrooms homes went up by 42.9%. In October 2022 more than 5 listings in Patchogue, NY were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 2 were sold below.

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