2022 First Quarter Analysis
M A R K E T R E P O RT January 1st through March 31st
19 Offices Located Throughout Long Island
HUNTINGTON
EAST SETAUKET MILLER PLACE
NORTHPORT SMITHTOWN WOODBURY EAST NORTHPORT
RONKONKOMA
SYOSSET COLD SPRING HARBOR GARDEN CITY
DIX HILLS BABYLON ROCKVILLE CENTRE WANTAGH MERRICK
AMITY HARBOR
SAYVILLE
Table of Contents Babylon Township
WADING RIVER
5
Brookhaven Township
6-7
Hempstead Township
8-9
Huntington Township
10
Islip Township
11
North Hempstead Township
12
Oyster Bay Township
14-15
Smithtown Township
16
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Annual Report We can all agree the warmer weather is a welcomed change after a long winter. The spring season is traditionally a time when the market starts to take off as buyers and sellers are looking to make a change and there is enough supply of new listings to satisfy the demand. However, nothing about the past few years has been traditional. Despite the challenges of low inventory and rising rates, buyer activity remains strong. This wild ride of a real estate market can be attributed to three main underlying factors: Interest rates At the time of writing this the current rate for a 30-year fixed-rate mortgage is 5%, the highest it’s been since 2012. The first three months of 2022 was a shock for many, as the interest rates increased faster than any of the economists predicted. As rates climbed, it added to the frenzy of buyers looking to secure a property to take advantage of the lower rates while they could. There are even more rate increases predicted for this year which goes hand in hand with higher price expectations. This shift in mortgage rates will likely continue to affect buyer and seller behavior moving forward, and it’s something we will keep a close watch on over the coming months. Inflation Right now, inflation is at a 40-year high. The cost of goods and services is increasing. What effect this will have on the real estate market is yet to be seen because demand remains through the roof. We have homes in most towns selling at or above their list price in record time. In the first quarter, we’ve seen double-digit appreciation in many towns across Nassau and Suffolk counties. Inventory Inventory across the country is historically the lowest it has ever been, that includes Long Island. We’re seeing more listings coming to market as the weather breaks and we enter the spring season, but homes are leaving the market just as fast as they come on. Nationally 85% of all homes that were listed across the country in the month of March were on the market for less than 30 days. While fewer homes sold across Long Island this year compared to last it is NOT due to a lack of buyer demand. Our agents are continuing to report long lines and multiple offer situations at many open houses. This strong demand for homes has continued to drive prices to levels not seen before. In Nassau County, the median single-family home price in March was $683,000, an increase of 9.3% from March of 2021. While in Suffolk, March’s median sale price of $550,000 reflects a 13.6% jump from the same period of time last year. The strong seller’s market that kicked off in 2020 has carried over and continues to strengthen well into 2022. If you’re looking for the most up-to-date real estate market trends on Long Island, we’ve got you covered!
4
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BABYLON TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Amity Harbor
$374,625
$493,655
31.8%
4
6
41
70
Amityville
$460,644
$548,484
19.1%
49
31
61
54
Babylon
$628,964
$717,277
14.0%
45
46
54
71
Copiague
$424,538
$488,764
15.1%
26
44
44
42
Deer Park
$484,097
$531,356
9.8%
68
52
51
40
Lindenhurst
$460,717
$516,759
12.2%
125
115
43
45
North Babylon
$483,577
$530,363
9.7%
47
40
42
42
West Babylon
$479,725
$544,945
13.6%
92
83
37
58
Wheatley Heights $478,875
$538,765
12.5%
16
17
91
46
$346,217
$422,956
22.2%
18
25
73
59
Wyandanch
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5
BROOKHAVEN TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
6
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Belle Terre
$851,500
$802,000
-5.8%
3
5
91
70
Bellport
$343,500
$424,344
23.5%
16
16
28
63
Blue Point
$497,143
$693,438
39.5%
14
13
21
77
Brookhaven
$559,743
$536,000
-4.2%
14
6
57
60
Center Moriches
$530,271
$627,650
18.4%
26
20
49
81
Centereach
$417,122
$494,239
18.5%
57
56
34
40
Coram
$416,974
$457,317
9.7%
60
35
59
46
East Moriches
$637,598
$760,727
19.3%
17
11
63
39
East Setauket
$586,673
$650,012
10.8%
26
26
53
55
Farmingville
$430,167
$487,125
13.2%
36
36
76
51
Holbrook
$450,809
$553,355
22.7%
49
55
55
35
Holtsville
$505,318
$558,278
10.5%
31
27
34
29
Lake Grove
$499,542
$506,654
1.4%
38
26
52
36
Lake Ronkonkoma $453,700
$431,214
-5.0%
20
14
45
31
Manorville
$499,531
$601,707
20.5%
32
27
64
70
Mastic
$298,616
$369,956
23.9%
49
50
52
41
Mastic Beach
$284,235
$344,747
21.3%
59
75
54
64
Medford
$426,490
$487,608
14.3%
80
60
53
52
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BROOKHAVEN TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Middle Island
$396,429
$445,794
12.5%
17
17
108
53
Miller Place
$541,906
$580,769
7.2%
46
26
67
58
Moriches
$542,313
$483,833
-10.8%
8
3
77
60
Mt Sinai
$565,371
$622,093
10.0%
35
32
61
53
Patchogue
$406,591
$471,178
15.9%
81
67
37
40
Port Jefferson
$590,159
$629,263
6.6%
22
19
67
68
Pt Jefferson Station $412,699
$517,511
25.4%
69
43
46
48
Ridge
$428,158
$514,704
20.2%
38
26
41
66
Rocky Point
$383,519
$414,255
8.0%
52
67
36
48
Selden
$399,774
$470,419
17.7%
67
70
36
38
Setauket
$618,982
$869,163
40.4%
28
20
81
49
South Setauket
$522,152
$565,876
8.4%
17
12
49
21
Shirley
$351,459
$400,489
14.0%
111
110
57
56
Shoreham
$543,852
$588,071
8.1%
24
14
47
46
Sound Beach
$374,681
$412,379
10.1%
32
34
41
54
Stony Brook
$576,240
$618,801
7.4%
34
42
48
45
Wading River
$524,517
$622,859
18.7%
146
40
56
50
Yaphank
$361,236
$542,600
50.2%
11
5
38
62
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HEMPSTEAD TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
8
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Atlantic Beach
$1,288,636
$2,348,750
82.3%
11
4
95
46
Baldwin
$513,918
$590,118
14.8%
57
49
65
61
Baldwin Harbor
$550,375
$600,000
9.0%
4
2
92
71
Bellerose
$716,000
$777,400
8.6%
34
35
57
87
Bellmore
$590,224
$737,084
24.9%
68
50
48
46
Cedarhurst
$777,679
$832,700
7.1%
14
10
100
61
East Meadow
$610,863
$678,473
11.1%
86
73
50
47
East Rockaway
$586,705
$652,250
11.2%
44
30
58
63
Elmont
$562,137
$618,962
10.1%
71
71
50
52
Floral Park
$623,421
$673,140
8.0%
63
50
69
43
Franklin Square
$698,719
$740,786
6.0%
57
63
73
68
Freeport
$485,184
$553,363
14.1%
84
58
63
65
Garden City
$1,142,800
$1,082,915
-5.2%
50
54
56
62
Garden City South $668,083
$559,333
-16.3%
6
3
31
70
Hewlett
$652,844
$703,900
7.8%
16
10
76
84
Hewlett Harbor
$2,731,250
$1,695,500
-37.9%
4
8
206
118
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HEMPSTEAD TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
Average Sales Price 2021
Hewlett Neck
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
$1,495,500
No. Homes Sold 2022
No. Days on Market 2021
2
No. Days on Market 2022 138
Inwood
$603,571
$587,614
-2.6%
7
7
265
50
Island Park
$578,970
$579,625
0.1%
33
20
74
50
Lawrence
$1,485,333
$1,276,778
-14.0%
9
9
67
130
Levittown
$515,848
$590,874
14.5%
137
116
42
46
Lido Beach
$815,375
$1,007,500
23.6%
8
6
80
151
Long Beach
$863,096
$821,273
-4.8%
63
43
95
121
Lynbrook
$577,595
$645,463
11.8%
49
44
44
66
Malverne
$606,348
$650,788
7.3%
33
28
71
40
Merrick
$714,371
$749,848
5.0%
96
101
65
50
Mineola
$628,048
$741,512
18.1%
33
43
72
52
New Hyde Park
$698,543
$766,679
9.8%
91
84
81
85
North Baldwin
$505,893
$600,048
18.6%
22
21
58
40
North Bellmore
$645,143
$635,027
-1.6%
43
33
67
33
North Merrick
$585,800
$511,250
-12.7%
5
4
54
66
Oceanside
$613,147
$675,473
10.2%
91
84
62
53
Pt Lookout
$860,000
$1,663,640
93.4%
2
5
317
92
Rockville Centre
$829,679
$863,107
4.0%
70
51
71
58
Roosevelt
$463,288
$518,665
12.0%
20
23
114
64
S. Hempstead
$482,857
$584,778
21.1%
7
9
21
47
Stewart Manor
$594,250
$726,333
22.2%
4
3
32
161
Uniondale
$491,917
$548,148
11.4%
30
27
52
60
Valley Stream
$563,083
$627,694
11.5%
121
104
57
52
Wantagh
$629,311
$691,023
9.8%
80
91
49
52
West Hempstead
$595,041
$661,205
11.1%
46
53
51
62
Woodmere
$856,279
$885,218
3.4%
35
23
108
69
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HUNTINGTON TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
10
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Centerport
$740,717
$681,500
-8.0%
23
14
69
76
Cold Spring Harbor
$1,610,036
$1,341,944
-16.7%
14
9
81
76
Commack
$626,848
$727,321
16.0%
79
53
44
42
Dix Hills
$862,516
$900,553
4.4%
91
87
78
68
East Northport
$577,385
$675,299
17.0%
89
68
37
41
Ft Salonga
$858,740
$693,998
-19.2%
3
4
23
79
Greenlawn
$654,514
$664,608
1.5%
22
14
53
41
Huntington
$690,020
$747,327
8.3%
130
106
54
46
Huntington Bay
$1,844,400
$1,135,875
-38.4%
5
8
150
56
Huntington Station $472,977
$515,165
8.9%
76
57
49
43
Lloyd Harbor
$1,616,667
$2,384,167
47.5%
21
6
160
69
Lloyd Neck
$1,347,500
$1,199,500
-11.0%
10
2
122
11
Melville
$760,550
$837,815
10.2%
50
44
64
70
Northport
$750,397
$874,946
16.6%
70
37
68
53
South Huntington
$564,125
$607,083
7.6%
20
12
47
22
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ISLIP TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
Average Sales Average Sales Price 2021 Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days On Market 2021
No. Days On Market 2022
Bay Shore
$448,702
$541,278
20.6%
140
81
50
49
Bayport
$644,591
$699,540
8.5%
22
10
47
38
Blue Point
$497,143
$693,438
39.5%
14
13
40
77
Bohemia
$478,759
$536,400
12.0%
17
20
52
33
Brentwood
$398,862
$476,579
19.5%
66
70
52
53
Brightwaters
$632,167
$751,667
18.9%
9
3
17
18
Central Islip
$371,966
$416,917
12.1%
57
42
61
50
East Islip
$568,021
$727,118
28.0%
37
34
61
64
Great River
$810,000
$872,500
100.0%
2
2
22
19
Holbrook
$496,888
$553,355
11.6%
50
55
40
35
Holtsville
$502,986
$558,278
11.0%
32
27
36
29
Islandia
$449,800
$482,500
7.3%
10
2
79
35
Islip
$498,225
$526,273
5.6%
28
33
61
46
Islip Terrace
$481,188
$552,500
14.8%
16
12
61
58
Lake Ronkonkoma
$452,095
$431,214
-4.6%
21
14
31
31
Oakdale
$569,000
$611,017
7.4%
20
23
64
63
Ronkokoma
$447,594
$508,005
13.5%
90
75
42
33
Sayville
$572,537
$599,591
4.7%
41
22
47
31
West Islip
$575,977
$737,898
28.1%
69
50
37
52
West Sayville
$473,000
$578,333
22.1%
7
3
24
41
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NORTH HEMPSTEAD TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
12
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Albertson
$754,875
$833,429
10.4%
16
14
89
74
Carle Place
$712,909
$665,833
-6.6%
11
6
56
54
East Hills
$1,356,256
$1,235,833
-8.9%
16
15
70
96
East Williston
$939,686
$1,361,000
44.8%
7
5
92
41
Floral Park
$698,719
$740,786
6.0%
57
63
73
68
Great Neck
$1,380,137
$1,495,184
8.3%
75
80
91
99
Manhasset
$1,831,719
$1,884,133
2.9%
55
30
96
79
Manhasset Hills
$952,250
$1,237,413
29.9%
4
7
53
51
Port Washington
$1,002,935
$986,380
-1.7%
48
60
78
63
Roslyn
$1,085,643
$1,367,587
26.0%
14
16
109
72
Roslyn Estates
$1,695,000
$1,788,000
5.5%
2
2
93
21
Roslyn Harbor
$1,450,000
$1,108,000
-23.6%
4
3
141
39
Rosyn Heights
$1,109,813
$1,160,222
4.5%
24
18
121
94
Sands Point
$4,007,500
$3,831,969
-4.4%
12
8
137
93
Searingtown
$1,134,000
$1,398,333
23.3%
2
3
39
82
Westbury
$579,981
$678,674
17.0%
102
90
58
49
Williston Park
$703,059
$694,727
-1.2%
16
11
78
48
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here we
Grow again “Be not afraid of growing slowly. Be afraid only of standing still.”
M AS SA P EQ UA PA R K 1000 Park Boulevard, Massapequa Park, NY
SA RAS OTA 1433 Main Street, Sarasota, FL
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OYSTER BAY TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Bayville
$824,800
$690,659
-16.3%
15
22
101
57
Bethpage
$563,392
$617,921
9.7%
51
47
56
36
Brookville
$2,305,000
$3,637,000
57.8%
8
2
186
176
Centre Island
$3,200,000
$3,750,000
17.2%
1
1
637
8
East Norwich
$771,125
$729,300
-5.4%
8
5
42
58
Farmingdale
$567,348
$605,643
6.7%
55
60
41
57
Glen Cove
$756,741
$857,908
13.4%
44
49
65
55
Glen Head
$827,682
$828,938
0.2%
22
16
83
66
Glenwood Landing $575,000
$658,400
14.5%
1
5
32
35
Greenvale
$810,667
$830,000
2.4%
3
1
39
64
Hicksville
$602,821
$649,883
7.8%
103
92
65
63
Jericho
$953,948
$1,138,693
19.4%
34
32
100
79
Lattingtown
$2,545,500
$2,450,000
-3.8%
1
1
15
19
Laurel Hollow
$1,500,000
$1,997,500
33.2%
7
2
155
30
Locust Valley
$1,288,205
$1,067,067
-17.2%
22
15
81
93
Massapequa
$611,019
$691,173
13.1%
133
121
52
50
Cove Neck
14
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OYSTER BAY TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Massapequa Park
$621,734
$655,037
5.4%
62
53
44
47
Muttontown
$1,650,115
$2,051,522
24.3%
13
23
103
146
North Massapequa $535,000
$619,667
15.8%
2
3
213
39
Old Bethpage
$779,014
$799,899
2.7%
12
11
79
62
Old Brookville
$1,942,333
$2,521,000
29.8%
15
4
158
97
Old Westbury
$2,835,063
$1,961,889
-30.8%
16
9
205
104
Oyster Bay
$771,361
$829,700
7.6%
12
10
124
91
Oyster Bay Cove
$1,912,500
$1,800,042
-5.9%
5
12
222
102
Plainview
$729,187
$814,000
11.6%
78
80
63
54
Sea Cliff
$1,038,339
$915,938
-11.8%
24
16
94
62
Seaford
$555,609
$621,419
11.8%
49
44
54
52
Syosset
$859,997
$1,140,921
32.7%
80
60
84
58
Upper Brookville
$1,489,167
$2,326,414
56.2%
6
7
53
161
Westbury
$579,981
$678,674
17.0%
102
90
58
49
Woodbury
$1,209,923
$1,933,646
59.8%
13
13
44
101
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15
SMITHTOWN TOWNSHIP MARKET REPORT 2022 First Quarter Analysis • January 1st - March 31st
% Town
16
Average Sales Price 2021
Average Sales Price 2022
YoY Change
No. Homes Sold 2021
No. Homes Sold 2022
No. Days on Market 2021
No. Days on Market 2022
Commack
$626,848
$727,321
16.0%
79
53
44
42
Hauppauge
$594,885
$653,792
9.9%
39
36
42
53
Head of the Harbor $847,500
$1,195,000
41.0%
2
3
386
106
Kings Park
$555,349
$594,703
7.1%
48
32
39
45
Lake Ronkonkoma
$453,700
$431,214
-5.0%
20
14
45
31
Nesconset
$539,877
$582,155
7.8%
22
29
40
55
Nissequogue
$1,181,250
$1,381,250
16.9%
4
4
60
62
Smithtown
$570,584
$714,928
25.3%
81
65
57
45
St James
$623,820
$686,655
10.1%
46
21
69
61
Signature Premier Properties
877.273.3750 | signaturepremier.com
Signature Premier Properties
877.273.3750 | signaturepremier.com
17
AMITY HARBOR 90 Montauk Highway Amity Harbor, NY 11701 Office: 631.842.8400
HUNTINGTON 157 East Main Street Huntington, NY 11743 Office: 631.673.3700
SMITHTOWN 7 West Main Street Smithtown, NY 11787 Office: 631.360.2800
BABYLON 126 W Main Street Babylon, NY 11702 Office: 631.422.3100
MERRICK 324 Merrick Avenue Merrick, NY 11566 Office: 516.546.6300
SYOSSET 33 Jackson Avenue Syosset, NY 11791 Office: 516.921.1400
COLD SPRING HARBOR 157 Main Street Cold Spring Harbor, NY 11724 Office: 631.692.4800
MILLER PLACE 275 Route 25A Miller Place, NY 11764 Office: 631.642.2300
WADING RIVER 6347 Route 25A Wading River, NY 11792 Office: 631.495.5678
DIX HILLS 15 East Deer Park Road Dix Hills, NY 11746 Office: 631.673.3900
NORTHPORT 180 Main Street Northport, NY 11768 Office: 631.754.3600
WANTAGH 1867 Wantagh Avenue Wantagh, NY 11793 Office: 516.785.0100
EAST NORTHPORT 190 Laurel Road East Northport, NY 11731 Office: 631.368.6800
ROCKVILLE CENTRE 75 Seaman Avenue Rockville Centre, NY 11570 Office: 516.766.7900
WOODBURY 7952 Jericho Turnpike Woodbury, NY 11797 Office: 516.496.0300
EAST SETAUKET 750 Route 25A East Setauket, NY 11733 Office: 631.751.2111
RONKONKOMA 4949 Express Drive N Suite 104 Ronkonkoma, NY 11779 Office: 631.585.8400 SAYVILLE 95 Main Street Sayville, NY 11782 Office: 631.567.0100
GARDEN CITY 730 Franklin Avenue Garden City, NY 11530 Office: 516.741.4333
18
Signature Premier Properties
MAIN: 877.273.3750
877.273.3750 | signaturepremier.com