Is Riverhead, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Riverhead was a Seller's Market.
Key Takeaway
Riverhead is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Riverhead, NY
How much do homes in Riverhead, NY cost?
Median Sold Price
$564,625
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Riverhead have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Riverhead was $564,625 in November 2023, up 4.6% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $330K | $382K | +15.8% |
| 2 Bedrooms | $417K | $435K | +4.3% |
| 3 Bedrooms | $550K | $571.5K | +3.9% |
| 4 Bedrooms | $655.5K | $717K | +9.4% |
| 5+ Bedrooms | $732.5K | $725.7K | -0.9% |
Summary: Riverhead housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 15.8%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes decreased by 0.9%.
Median Sold Price Compared To Nearby Cities
| Southold | $945K | $997.4K | +5.6% |
| Riverhead | $540K | $564.6K | +4.6% |
| Brookhaven | $468.6K | $485K | +3.5% |
Housing Supply in Riverhead, NY
How many homes are available in Riverhead, NY?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 180 | 185 | +2.8% |
Summary: The Riverhead real estate market had 185 homes for sale in November 2023, a 2.8% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 34 | 35 | +2.9% |
| 3 Bedrooms | 69 | 78 | +13.0% |
| 4 Bedrooms | 57 | 56 | -1.8% |
| 5+ Bedrooms | 15 | 13 | -13.3% |
Summary: The Riverhead housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 13%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 28 | 20 | -28.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverhead, you may be able to get a good deal. 65% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Riverhead in November 2023, down by 28.6% month-over-month. Of the 20 sold homes, 65% were sold under asking, 10% were sold at asking, and 25% were sold over asking.
Days on Market for Riverhead, NY
How long does it take to sell a home in Riverhead, NY?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 65 Days | 58 Days | -10.0% |
Summary: Homes in Riverhead had an average of 58 days on market in Nov 2023, down by 10% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverhead are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 20 homes were sold in Riverhead; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% 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. 
IDX Disclaimer/Disclosure: 
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.