Is Southold, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Southold was a Seller'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
$1,067,833
$532/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Southold have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Southold was $1,067,833 in March 2024, up 7.3% from last year, and the median price per square foot was $532.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $462.5K | $570K | +23.2% |
| 2 Bedrooms | $675K | $725K | +7.4% |
| 3 Bedrooms | $920K | $972.5K | +5.7% |
| 4 Bedrooms | $1.2M | $1.3M | +7.1% |
| 5+ Bedrooms | $1.8M | $2.1M | +18.6% |
Summary: Southold housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.2%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 18.6%.
Median Sold Price Compared To Nearby Cities
| Southold | $995K | $1.0M | +7.3% |
| Greenport | $905.7K | $936.5K | +3.4% |
Housing Supply in Southold, NY
How many homes are available in Southold, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 176 | 193 | +9.7% |
Summary: The Southold real estate market had 193 homes for sale in March 2024, a 9.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 24 | 29 | +20.8% |
| 3 Bedrooms | 68 | 71 | +4.4% |
| 4 Bedrooms | 53 | 60 | +13.2% |
| 5+ Bedrooms | 25 | 28 | +12.0% |
Summary: The Southold housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 12%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 24 | +26.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southold, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Southold in March 2024, up by 26.3% month-over-month. Of the 24 sold homes, 71% were sold under asking, 13% were sold at asking, and 17% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 86 Days | 97 Days | +12.7% |
Summary: Homes in Southold had an average of 97 days on market in Mar 2024, up by 12.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Southold are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 24 homes were sold in Southold; 25% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 46% 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. 
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.