Is South Farmingdale, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, South Farmingdale was a Seller's Market.
Key Takeaway
South Farmingdale is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Farmingdale, NY
How much do homes in South Farmingdale, NY cost?
Median Sold Price
$636,000
$416/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Farmingdale have sold for 6% more than they did a year ago.
Summary: The median home sold price in South Farmingdale was $636,000 in April 2024, up 6% from last year, and the median price per square foot was $416.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $500K | $520K | +4.0% |
| 3 Bedrooms | $607.5K | $610.7K | 0.5% |
| 4 Bedrooms | $600K | $660K | +10.0% |
| 5+ Bedrooms | $625K | $677.7K | +8.4% |
Summary: South Farmingdale housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Neighborhoods
| South Farmingdale | $600K | $636K | +6.0% |
| North Massapequa | $640.5K | $675K | +5.4% |
| East Massapequa | $620K | $650K | +4.8% |
| East Farmingdale | $537.5K | $555K | +3.3% |
Housing Supply in South Farmingdale, NY
How many homes are available in South Farmingdale, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 44 | +22.2% |
Summary: The South Farmingdale real estate market had 44 homes for sale in April 2024, a 22.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 9 | 18 | +100.0% |
| 4 Bedrooms | 20 | 19 | -5.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The South Farmingdale housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 4 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Farmingdale, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in South Farmingdale in April 2024, down by 66.7% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for South Farmingdale, NY
How long does it take to sell a home in South Farmingdale, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 83 Days | 13 Days | -84.3% |
Summary: Homes in South Farmingdale had an average of 13 days on market in Apr 2024, down by 84.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Farmingdale are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in South Farmingdale; 100% of homes were sold within 30 days, 0% 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.