Is 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, Smithtown has remained a Neutral Market.
Housing Prices in Smithtown, NY
How much do homes in Smithtown, NY cost?
Median Sold Price
$685,250
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Smithtown was $685,250 in April 2024, up 5.7% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $340K | $385K | +13.2% |
2 Bedrooms | $483K | $515K | +6.6% |
3 Bedrooms | $610K | $640.2K | +5.0% |
4 Bedrooms | $700K | $749K | +7.0% |
5+ Bedrooms | $845K | $850K | +0.6% |
Summary: Smithtown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.2%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
Smithtown | $648.2K | $685.2K | +5.7% |
Village of the Branch | $715K | $750K | +4.9% |
Lake Grove | $607.5K | $624.5K | +2.8% |
Nissequogue | $1.1M | $1.1M | -6.4% |
Housing Supply in Smithtown, NY
How many homes are available in Smithtown, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
363 | 405 | +11.6% |
Summary: The Smithtown real estate market had 405 homes for sale in April 2024, a 11.6% 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 | 31 | 33 | +6.5% |
3 Bedrooms | 110 | 116 | +5.5% |
4 Bedrooms | 146 | 176 | +20.5% |
5+ Bedrooms | 63 | 71 | +12.7% |
Summary: The 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 6.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 12.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
60 | 67 | +11.7% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 67 homes were sold or pending in Smithtown in April 2024, up by 11.7% 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 Smithtown, NY
How long does it take to sell a home in Smithtown, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
70 Days | 45 Days | -35.2% |
Summary: Homes in Smithtown had an average of 45 days on market in Apr 2024, down by 35.2% 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
Summary: During April 2024, 67 homes were sold in 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.