Is Southold, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southold has remained a Buyer's Market.
Housing Prices in Southold, NY
How much do homes in Southold, NY cost?
Median Sold Price
$1,052,500
$542/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Southold was $1,052,500 in May 2024, up 7.9% from last year, and the median price per square foot was $542.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $425K | $570K | +34.1% |
2 Bedrooms | $675K | $706.2K | +4.6% |
3 Bedrooms | $906.5K | $920K | +1.5% |
4 Bedrooms | $1.2M | $1.3M | +8.0% |
5+ Bedrooms | $1.8M | $2.1M | +18.8% |
Summary: Southold housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.1%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 18.8%.
Median Sold Price Compared To Nearby Cities
Southold | $975K | $1.0M | +7.9% |
Greenport | $886.2K | $936.5K | +5.7% |
Shelter Island | $1.8M | $1.3M | -28.3% |
Housing Supply in Southold, NY
How many homes are available in Southold, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
208 | 251 | +20.7% |
Summary: The Southold real estate market had 251 homes for sale in May 2024, a 20.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 30 | 33 | +10.0% |
3 Bedrooms | 78 | 99 | +26.9% |
4 Bedrooms | 68 | 78 | +14.7% |
5+ Bedrooms | 27 | 35 | +29.6% |
Summary: The Southold housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 26.9%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 29.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 29 | +81.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Southold in May 2024, up by 81.3% month-over-month. Of the 29 sold homes, 62% were sold under asking, 17% were sold at asking, and 21% were sold over asking.
Days on Market for Southold, NY
How long does it take to sell a home in Southold, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
58 Days | 67 Days | +13.8% |
Summary: Homes in Southold had an average of 67 days on market in May 2024, up by 13.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During May 2024, 29 homes were sold in Southold; 28% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.