Is Riverhead, 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, Riverhead has remained a Neutral Market.
Housing Prices in Riverhead, NY
How much do homes in Riverhead, NY cost?
Median Sold Price
$565,000
$347/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Riverhead was $565,000 in April 2024, up 1.5% from last year, and the median price per square foot was $347.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $332.5K | $370K | +11.3% |
2 Bedrooms | $401K | $441K | +10.0% |
3 Bedrooms | $567K | $580K | +2.3% |
4 Bedrooms | $705K | $725K | +2.8% |
5+ Bedrooms | $755K | $745K | -1.3% |
Summary: Riverhead housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 1.3%.
Median Sold Price Compared To Nearby Cities
Brookhaven | $470.8K | $509.1K | +8.1% |
Southold | $979K | $1.0M | +7.4% |
Riverhead | $556.5K | $565K | +1.5% |
Housing Supply in Riverhead, NY
How many homes are available in Riverhead, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
174 | 191 | +9.8% |
Summary: The Riverhead real estate market had 191 homes for sale in April 2024, a 9.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 40 | 46 | +15.0% |
3 Bedrooms | 73 | 77 | +5.5% |
4 Bedrooms | 52 | 56 | +7.7% |
5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Riverhead 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 increased by 15%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 29 | +3.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Riverhead in April 2024, up by 3.6% month-over-month. Of the 29 sold homes, 38% were sold under asking, 14% were sold at asking, and 48% were sold over asking.
Days on Market for Riverhead, NY
How long does it take to sell a home in Riverhead, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
70 Days | 42 Days | -39.5% |
Summary: Homes in Riverhead had an average of 42 days on market in Apr 2024, down by 39.5% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in Riverhead; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.