Is Smithtown, 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, Smithtown was a Seller's Market.
Key Takeaway
Smithtown 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 Smithtown, NY
How much do homes in Smithtown, NY cost?
Median Sold Price
$685,000
$350/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Smithtown have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Smithtown was $685,000 in March 2024, up 6.9% from last year, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $348K | $364K | +4.6% |
| 2 Bedrooms | $481.5K | $515K | +7.0% |
| 3 Bedrooms | $610K | $640K | +4.9% |
| 4 Bedrooms | $699.7K | $741.7K | +6.0% |
| 5+ Bedrooms | $840K | $845K | +0.6% |
Summary: Smithtown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.6%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Smithtown | $641K | $685K | +6.9% |
| Lake Grove | $597.5K | $624K | +4.4% |
| Nissequogue | $1.1M | $1.1M | -3.0% |
Housing Supply in Smithtown, NY
How many homes are available in Smithtown, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 330 | 365 | +10.6% |
Summary: The Smithtown real estate market had 365 homes for sale in March 2024, a 10.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 13 | +30.0% |
| 2 Bedrooms | 28 | 32 | +14.3% |
| 3 Bedrooms | 88 | 105 | +19.3% |
| 4 Bedrooms | 140 | 148 | +5.7% |
| 5+ Bedrooms | 64 | 67 | +4.7% |
Summary: The Smithtown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 4.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 49 | 55 | +12.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smithtown, you could pay more than the asking price. 61.8% of homes here sold above asking price last month.
Summary: A total of 55 homes were sold or pending in Smithtown in March 2024, up by 12.2% month-over-month. Of the 55 sold homes, 25% were sold under asking, 13% were sold at asking, and 62% were sold over asking.
Days on Market for Smithtown, NY
How long does it take to sell a home in Smithtown, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 79 Days | 51 Days | -35.3% |
Summary: Homes in Smithtown had an average of 51 days on market in Mar 2024, down by 35.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Smithtown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 55 homes were sold in Smithtown; 55% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% 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.