Is Larchmont, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Larchmont was a Buyer's Market.
Key Takeaway
Larchmont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Larchmont, NY
How much do homes in Larchmont, NY cost?
Median Sold Price
$1,419,000
$611/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Larchmont have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Larchmont was $1,419,000 in May 2024, up 7.4% from last year, and the median price per square foot was $611.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $257.5K | $370K | +43.7% |
| 2 Bedrooms | $649.5K | $742.5K | +14.3% |
| 3 Bedrooms | $1.1M | $1.2M | +12.5% |
| 4 Bedrooms | $1.6M | $1.6M | +1.0% |
| 5+ Bedrooms | $2.3M | $2.7M | +14.5% |
Summary: Larchmont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.7%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 14.5%.
Housing Supply in Larchmont, NY
How many homes are available in Larchmont, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 132 | 133 | +0.8% |
Summary: The Larchmont real estate market had 133 homes for sale in May 2024, a 0.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 22 | -4.3% |
| 2 Bedrooms | 8 | 12 | +50.0% |
| 3 Bedrooms | 26 | 22 | -15.4% |
| 4 Bedrooms | 36 | 35 | -2.8% |
| 5+ Bedrooms | 39 | 42 | +7.7% |
Summary: The Larchmont housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.3%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Larchmont, you could pay more than the asking price. 68% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Larchmont in May 2024, up by 13.6% month-over-month. Of the 25 sold homes, 24% were sold under asking, 8% were sold at asking, and 68% were sold over asking.
Days on Market for Larchmont, NY
How long does it take to sell a home in Larchmont, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 30 Days | +39.9% |
Summary: Homes in Larchmont had an average of 30 days on market in May 2024, up by 39.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Larchmont are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in Larchmont; 84% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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.