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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southold is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Southold has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Southold, NY

How much do homes in Southold, NY cost?

Median Sold Price

$1,053,333

$543/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$58,333(+5.9%)

Key Takeaway

Homes in Southold have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Southold was $1,053,333 in February 2024, up 5.9% from last year, and the median price per square foot was $543.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $462.5K$575K
+24.3%
2 $680K$737.5K
+8.5%
3 $906.5K$960K
+5.9%
4 $1.2M$1.4M
+16.7%
5+ $1.5M$2.0M
+31.6%

Summary: Southold housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.3%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 31.6%.

Median Sold Price Compared To Nearby Cities

Greenport
+6.6%
Southold
+5.9%

Housing Supply in Southold, NY

How many homes are available in Southold, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
177181+2.3%

Summary: The Southold real estate market had 181 homes for sale in February 2024, a 2.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 56
+20.0%
2 2324
+4.3%
3 6267
+8.1%
4 5958
-1.7%
5+ 2826
-7.1%

Summary: The Southold housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 8.1%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes decreased by 7.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2619-26.9%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southold, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Southold in February 2024, down by 26.9% month-over-month. Of the 19 sold homes, 74% were sold under asking, 5% were sold at asking, and 21% were sold over asking.

Days on Market for Southold, NY

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

Average Sale Time

Feb 2023Feb 2024CHANGE
72 Days83 Days+14.9%

Summary: Homes in Southold had an average of 83 days on market in Feb 2024, up by 14.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 19 homes were sold in Southold; 16% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 37% 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

Newest Listings in Southold, NY

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