Is Southold, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Southold has remained a Buyer's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $462.5K | $575K | +24.3% |
2 Bedrooms | $680K | $737.5K | +8.5% |
3 Bedrooms | $906.5K | $960K | +5.9% |
4 Bedrooms | $1.2M | $1.4M | +16.7% |
5+ Bedrooms | $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 | $886.2K | $945K | +6.6% |
Southold | $995K | $1.0M | +5.9% |
Housing Supply in Southold, NY
How many homes are available in Southold, NY?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
177 | 181 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 23 | 24 | +4.3% |
3 Bedrooms | 62 | 67 | +8.1% |
4 Bedrooms | 59 | 58 | -1.7% |
5+ Bedrooms | 28 | 26 | -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 2024 | Feb 2024 | CHANGE |
---|---|---|
26 | 19 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
72 Days | 83 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
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.