Is Suffolk County, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Suffolk County is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Suffolk County was a Seller's Market.

Key Takeaway

Suffolk County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Suffolk County, NY

How much do homes in Suffolk County, NY cost?

Median Sold Price

$624,419

$356/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$63,460(+11.3%)

Key Takeaway

Homes in Suffolk County have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in Suffolk County was $624,419 in November 2024, up 11.3% from last year, and the median price per square foot was $356.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $250K$275K
+10.0%
2 $418.5K$459.9K
+9.9%
3 $535K$590K
+10.3%
4 $635.2K$699.9K
+10.2%
5+ $724.3K$765.2K
+5.6%

Summary: Suffolk County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 5.6%.

Median Sold Price Compared To Nearby Counties

Suffolk County
+11.3%
Nassau County
+9.8%

Housing Supply in Suffolk County, NY

How many homes are available in Suffolk County, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6,7556,336-6.2%

Summary: The Suffolk County real estate market had 6,336 homes for sale in November 2024, a 6.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 205195
-4.9%
2 910813
-10.7%
3 2,2392,102
-6.1%
4 2,1292,015
-5.4%
5+ 1,2721,211
-4.8%

Summary: The Suffolk County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.9%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 4.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1,2131,053-13.2%

Asking Price vs. Sold Price

332 Homes Were Sold
Under Asking

122 Homes Were Sold
At Asking

599 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Suffolk County, you could pay more than the asking price. 56.9% of homes here sold above asking price last month.

Summary: A total of 1,053 homes were sold or pending in Suffolk County in November 2024, down by 13.2% month-over-month. Of the 1,053 sold homes, 32% were sold under asking, 12% were sold at asking, and 57% were sold over asking.

Days on Market for Suffolk County, NY

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

Average Sale Time

Nov 2023Nov 2024CHANGE
47 Days49 Days+3.0%

Summary: Homes in Suffolk County had an average of 49 days on market in Nov 2024, up by 3% compared to last year.

Breakdown of Home Sale Times

553 Homes Were Sold
Under 30 Days

334 Homes Were Sold
In 30 - 90 Days

166 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Suffolk County are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1053 homes were sold in Suffolk County; 53% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 16% 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 12 Days Ago

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