Is Riverhead, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Riverhead was a Seller's Market.
Housing Prices in Riverhead, NY
How much do homes in Riverhead, NY cost?
Median Sold Price
$559,625
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Riverhead was $559,625 in February 2024, up 1.9% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $345K | $384.5K | +11.4% |
2 Bedrooms | $395K | $440K | +11.4% |
3 Bedrooms | $560K | $575K | +2.7% |
4 Bedrooms | $685K | $715K | +4.4% |
5+ Bedrooms | $735K | $770K | +4.8% |
Summary: Riverhead housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
Brookhaven | $469.9K | $500K | +6.4% |
Southold | $995K | $1.0M | +5.9% |
Riverhead | $549K | $559.6K | +1.9% |
Housing Supply in Riverhead, NY
How many homes are available in Riverhead, NY?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
163 | 158 | -3.1% |
Summary: The Riverhead real estate market had 158 homes for sale in February 2024, a 3.1% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 37 | 34 | -8.1% |
3 Bedrooms | 69 | 71 | +2.9% |
4 Bedrooms | 43 | 43 | 0.0% |
5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Riverhead housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 8.1%, 3 bedroom homes increased by 2.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
32 | 18 | -43.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Riverhead in February 2024, down by 43.8% month-over-month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
60 Days | 76 Days | +26.7% |
Summary: Homes in Riverhead had an average of 76 days on market in Feb 2024, up by 26.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During February 2024, 18 homes were sold in Riverhead; 39% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.