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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southampton is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Southampton was a Neutral Market.

Key Takeaway

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

Housing Prices in Southampton, NY

How much do homes in Southampton, NY cost?

Median Sold Price

$1,415,000

$725/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,000(+1.1%)

Key Takeaway

Homes in Southampton have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Southampton was $1,415,000 in October 2024, up 1.1% from last year, and the median price per square foot was $725.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $750K$650K
-13.3%
2 $947.5K$686.8K
-27.5%
3 $1.1M$1.2M
+2.7%
4 $2.1M$1.3M
-38.2%
5+ $4.3M$4.6M
+6.7%

Summary: Southampton housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.3%, 2 bedroom homes decreased by 27.5%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 38.2%, and 5+ bedroom homes increased by 6.7%.

Housing Supply in Southampton, NY

How many homes are available in Southampton, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
104114+9.6%

Summary: The Southampton real estate market had 114 homes for sale in October 2024, a 9.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 77
0.0%
3 2628
+7.7%
4 3034
+13.3%
5+ 4045
+12.5%

Summary: The Southampton housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southampton, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Southampton in October 2024, up by 75.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.

Days on Market for Southampton, NY

How long does it take to sell a home in Southampton, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
155 Days150 Days-3.1%

Summary: Homes in Southampton had an average of 150 days on market in Oct 2024, down by 3.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Southampton are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 7 homes were sold in Southampton; 14% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 71% of homes were sold over 90 days.

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

Report Updated 3 Days Ago

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