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 February 2023

At the same time last year, Southampton was a Seller's 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

$1,305,000

$711/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$205,000(-13.6%)

Key Takeaway

Homes in Southampton have sold for 13.6% less than they did a year ago.

Summary: The median home sold price in Southampton was $1,305,000 in February 2024, down 13.6% from last year, and the median price per square foot was $711.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $350K$750K
+114.3%
2 $873K$925K
+6.0%
3 $1.2M$1.1M
-6.0%
4 $1.6M$1.3M
-19.8%
5+ $3.9M$4.3M
+9.4%

Summary: Southampton housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 114.3%, 2 bedroom homes increased by 6%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 19.8%, and 5+ bedroom homes increased by 9.4%.

Housing Supply in Southampton, NY

How many homes are available in Southampton, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6781+20.9%

Summary: The Southampton real estate market had 81 homes for sale in February 2024, a 20.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 46
+50.0%
3 1718
+5.9%
4 1722
+29.4%
5+ 2935
+20.7%

Summary: The Southampton housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes increased by 20.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Southampton in February 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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

Feb 2023Feb 2024CHANGE
108 Days53 Days-51.0%

Summary: Homes in Southampton had an average of 53 days on market in Feb 2024, down by 51% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Southampton has remained consistent over time.

Summary: During February 2024, 3 homes were sold in Southampton; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 18 Days Ago

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