Is Lake Grove, 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, 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
$622,000
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Grove was $622,000 in May 2024, up 3.7% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $337.5K | N/A |
2 Bedrooms | $460K | $470K | +2.2% |
3 Bedrooms | $513K | $570K | +11.1% |
4 Bedrooms | $649.5K | $666.2K | +2.6% |
5+ Bedrooms | $690K | $632.5K | -8.3% |
Summary: Lake Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 8.3%.
Median Sold Price Compared To Nearby Cities
Brookhaven | $474.2K | $515K | +8.6% |
Smithtown | $649.9K | $697.2K | +7.3% |
Lake Grove | $600K | $622K | +3.7% |
Housing Supply in Lake Grove, NY
How many homes are available in Lake Grove, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
51 | 59 | +15.7% |
Summary: The Lake Grove real estate market had 59 homes for sale in May 2024, a 15.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 6 | 9 | +50.0% |
3 Bedrooms | 16 | 17 | +6.3% |
4 Bedrooms | 20 | 21 | +5.0% |
5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Lake Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 4 | -42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lake Grove in May 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 51 Days | +2.5% |
Summary: Homes in Lake Grove had an average of 51 days on market in May 2024, up by 2.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Lake Grove; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.