Is Mohegan Lake, 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, Mohegan Lake was a Buyer's Market.
Key Takeaway
Mohegan Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mohegan Lake, NY
How much do homes in Mohegan Lake, NY cost?
Median Sold Price
$440,000
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mohegan Lake have sold for 2.2% less than they did a year ago.
Summary: The median home sold price in Mohegan Lake was $440,000 in May 2024, down 2.2% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210.7K | $250K | +18.6% |
| 2 Bedrooms | $388.5K | $403.5K | +3.9% |
| 3 Bedrooms | $505K | $500K | -1.0% |
| 4 Bedrooms | $620K | $731K | +17.9% |
| 5+ Bedrooms | $625K | $830K | +32.8% |
Summary: Mohegan Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.6%, 2 bedroom homes increased by 3.9%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 32.8%.
Median Sold Price Compared To Nearby Cities
| Shrub Oak | $496.3K | $587.9K | +18.5% |
| Cortlandt Manor | $537.9K | $580K | +7.8% |
| Yorktown | $568K | $588.3K | +3.6% |
| Yorktown Heights | $575K | $591.8K | +2.9% |
| Mohegan Lake | $450K | $440K | -2.2% |
Housing Supply in Mohegan Lake, NY
How many homes are available in Mohegan Lake, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 30 | -9.1% |
Summary: The Mohegan Lake real estate market had 30 homes for sale in May 2024, a 9.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Mohegan Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mohegan Lake, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Mohegan Lake in May 2024, up by 25.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Mohegan Lake, NY
How long does it take to sell a home in Mohegan Lake, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 28 Days | -48.1% |
Summary: Homes in Mohegan Lake had an average of 28 days on market in May 2024, down by 48.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mohegan Lake are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Mohegan Lake; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% 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.