Is Lake Grove, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lake Grove was a Seller's Market.
Housing Prices in Lake Grove, NY
How much do homes in Lake Grove, NY cost?
Median Sold Price
$624,500
$324/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Grove was $624,500 in April 2024, up 2.8% from last year, and the median price per square foot was $324.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $337.5K | N/A |
2 Bedrooms | $446.2K | $520K | +16.5% |
3 Bedrooms | $500K | $565K | +13.0% |
4 Bedrooms | $650K | $660K | +1.5% |
5+ Bedrooms | $690K | $632.5K | -8.3% |
Summary: Lake Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 8.3%.
Median Sold Price Compared To Nearby Cities
Brookhaven | $470.8K | $509.1K | +8.1% |
Smithtown | $648.2K | $685.2K | +5.7% |
Lake Grove | $607.5K | $624.5K | +2.8% |
Housing Supply in Lake Grove, NY
How many homes are available in Lake Grove, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
45 | 51 | +13.3% |
Summary: The Lake Grove real estate market had 51 homes for sale in April 2024, a 13.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 6 | -25.0% |
3 Bedrooms | 11 | 16 | +45.5% |
4 Bedrooms | 18 | 20 | +11.1% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Lake Grove housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 6 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Lake Grove in April 2024, down by 33.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Lake Grove, NY
How long does it take to sell a home in Lake Grove, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
66 Days | 58 Days | -12.9% |
Summary: Homes in Lake Grove had an average of 58 days on market in Apr 2024, down by 12.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Lake Grove; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.