Is Town of Smithtown, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Town of Smithtown has remained a Neutral Market.
Key Takeaway
Town of Smithtown 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 Smithtown, NY
How much do homes in Town of Smithtown, NY cost?
Median Sold Price
$684,333
$350/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Town of Smithtown have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Town of Smithtown was $684,333 in April 2024, up 6.1% from last year, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $347.5K | $374.5K | +7.8% |
| 2 Bedrooms | $479.9K | $517.5K | +7.8% |
| 3 Bedrooms | $610K | $640K | +4.9% |
| 4 Bedrooms | $700K | $744.8K | +6.4% |
| 5+ Bedrooms | $837K | $850K | +1.6% |
Summary: Town of Smithtown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Fort Salonga | $835K | $982.5K | +17.7% |
| Kings Park | $594.5K | $636.6K | +7.1% |
| Town of Smithtown | $645K | $684.3K | +6.1% |
| Stony Brook | $624K | $650K | +4.2% |
| Saint James | $575K | $585K | +1.7% |
Housing Supply in Town of Smithtown, NY
How many homes are available in Town of Smithtown, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 367 | 408 | +11.2% |
Summary: The Town of Smithtown real estate market had 408 homes for sale in April 2024, a 11.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 9 | -30.8% |
| 2 Bedrooms | 32 | 34 | +6.3% |
| 3 Bedrooms | 111 | 116 | +4.5% |
| 4 Bedrooms | 146 | 175 | +19.9% |
| 5+ Bedrooms | 65 | 74 | +13.8% |
Summary: The Town of Smithtown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30.8%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 13.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 67 | +9.8% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Town of Smithtown, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.
Summary: A total of 67 homes were sold or pending in Town of Smithtown in April 2024, up by 9.8% month-over-month. Of the 67 sold homes, 37% were sold under asking, 10% were sold at asking, and 52% were sold over asking.
Days on Market for Town of Smithtown, NY
How long does it take to sell a home in Town of Smithtown, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 68 Days | 45 Days | -33.5% |
Summary: Homes in Town of Smithtown had an average of 45 days on market in Apr 2024, down by 33.5% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Town of Smithtown are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 67 homes were sold in Town of Smithtown; 54% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% 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.