Is Town of Riverhead, 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, Town of Riverhead was a Buyer's Market.
Key Takeaway
Town of Riverhead 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 Town of Riverhead, NY
How much do homes in Town of Riverhead, NY cost?
Median Sold Price
$570,000
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Town of Riverhead have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Town of Riverhead was $570,000 in March 2024, down 0.6% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $370K | +5.7% |
| 2 Bedrooms | $445K | $455K | +2.2% |
| 3 Bedrooms | $569K | $583.7K | +2.6% |
| 4 Bedrooms | $695K | $722.5K | +4.0% |
| 5+ Bedrooms | $795K | $780K | -1.9% |
Summary: Town of Riverhead housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Town of Riverhead | $573.3K | $570K | -0.6% |
| Baiting Hollow | $630K | $561.5K | -10.9% |
Housing Supply in Town of Riverhead, NY
How many homes are available in Town of Riverhead, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 127 | 146 | +15.0% |
Summary: The Town of Riverhead real estate market had 146 homes for sale in March 2024, a 15.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 25 | 33 | +32.0% |
| 3 Bedrooms | 54 | 55 | +1.9% |
| 4 Bedrooms | 38 | 48 | +26.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Town of Riverhead housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 32%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 22 | +46.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Town of Riverhead, you may be able to get a good deal. 59.1% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Town of Riverhead in March 2024, up by 46.7% month-over-month. Of the 22 sold homes, 59% were sold under asking, 23% were sold at asking, and 18% were sold over asking.
Days on Market for Town of Riverhead, NY
How long does it take to sell a home in Town of Riverhead, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 68 Days | 93 Days | +36.6% |
Summary: Homes in Town of Riverhead had an average of 93 days on market in Mar 2024, up by 36.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Town of Riverhead has remained consistent over time.
Summary: During March 2024, 22 homes were sold in Town of Riverhead; 23% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 36% 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. 
IDX Disclaimer/Disclosure: The data on this website relating to real estate for sale comes in part from the IDX Program of the Multiple Listing Service of the Elmira-Corning Regional Association of REALTORS®, Inc.