2024 Mid-Year Analysis
MARKET REPORT
January 1st through June 30th
22 Offices Located Throughout Long Island
MASSAPEQUA
BAY
Mid-Year Analysis STRENGTH IN A HOLDING PATTERN
The first half of 2024 revealed distinct and notable differences in the Nassau and Suffolk County real estate markets compared to the same period in 2023. Despite being in close proximity, each county showcases its own unique market characteristics.
The biggest hurdle facing home buyers over the past few years has been the lack of available homes for sale. We are slowly starting to see a change taking place across the country as more properties are coming to market. This is true in Suffolk where there has been a notable 13% increase in new listing activity compared to the first half of 2023. On the other hand Nassau County has experienced a 2% decline in new listings, suggesting a tighter inventory and greater competition among buyers for available homes.
A key trend across both counties is the significant rise in home prices. Nassau County’s median sale price surged by 12.7% compared to June 2023, while Suffolk County has experienced an impressive 13.2% increase. This price growth is attributed to limited inventory, high demand, and a competitive market environment. While home prices continue to rise there were fewer home sales during the first half of 2024 in both counties. There were 5,635 sales in Suffolk for the first six months of this year, a decline of 5% compared to 2023 while Nassau County saw 4,447 sales a drop of 4.2% from 2023 when there were 4,643 closings. Contract activity reveals a 5.8% decrease year-over-year in Nassau County, while Suffolk County’s number of pending sales has remained stable. This indicates a slight slowdown in overall market activity, potentially due to limited supply in inventory.
The market continues to favor sellers with rising prices and strong demand; however, the anticipated increase in inventory over the coming months could provide muchneeded relief for buyers. More available homes could help balance the market and offer additional options for prospective purchasers.
Navigating this dynamic market requires expert guidance. Your Signature Premier Properties agent is well-equipped to assist you with personalized advice and strategies tailored to your needs, ensuring a smooth process whether you’re buying or selling.
BABYLON TOWNSHIP MARKET REPORT
2024 Mid-Year Report • January 1st - June 30th
BROOKHAVEN TOWNSHIP MARKET REPORT
$975,000
$465,000
$600,000
$632,000
$599,000
$560,000
$550,000
$740,000
$520,000
$655,000
$580,000
$592,500 $552,500
$605,000
BROOKHAVEN TOWNSHIP MARKET REPORT
HEMPSTEAD TOWNSHIP MARKET REPORT
HEMPSTEAD TOWNSHIP MARKET REPORT
2024 Mid-Year Report • January 1st - June 30th
Median Sales Price 2024
$790,000
$705,000
$999,000
$657,500
$1,282,000
$840,000
$730,000
$723,000
$810,000
$762,500
$805,000
$630,000
$750,000
$782,500
$696,500
$1,262,500
$850,000
$575,000
$625,000
$825,000
$590,000
$691,000
$780,000
$712,000
$1,540,750
$600,000
$1,033,000
$646,750
$1,275,000
$877,889
$558,000
$592,500
$725,000
$530,000
$630,000 $670,000
$1,151,000 Median Sales Price 2023
*Data in this Market Report is sourced from Onekey MLS for Nassau County and Suffolk County and is a comparison of residential homes sold between (Jan 1, 2024-June 30, 2024) and (Jan 1, 2023 - June 30, 2023). All information here is intended for informational purposes only and is subject to errors, omissions, changes in price without notice.
HUNTINGTON TOWNSHIP MARKET REPORT
Town
Cold
Dix
$785,000
$1,452,500
$719,500
$999,999
$715,500
$1,175,000
$800,000
$850,000
$1,738,000
$610,000
Lloyd
Lloyd
ISLIP TOWNSHIP MARKET REPORT
2024 Mid-Year Report • January 1st - June 30th %
NORTH HEMPSTEAD TOWNSHIP MARKET REPORT
Manhasset
Roslyn
Rosyn
Sands
$999,000
$795,000
$1,680,000
$1,225,000
$772,000
$1,557,500
$2,100,000
$1,329,500
$1,130,000
$1,385,000
$1,630,000
$1,920,000
$1,130,000
$3,735,000
$1,556,500
$690,000
$805,000
OYSTER BAY TOWNSHIP MARKET REPORT
OYSTER BAY TOWNSHIP MARKET REPORT
RIVERHEAD TOWNSHIP MARKET REPORT
2024 Mid-Year Report • January 1st - June 30th
SMITHTOWN TOWNSHIP MARKET REPORT
SOUTHAMPTON TOWNSHIP MARKET REPORT
Mid-Year Report • January 1st - June 30th
SOUTHOLD TOWNSHIP MARKET REPORT
AMITY HARBOR
90 Montauk Highway
Amity Harbor, NY 11701 Office: 631.842.8400
BABYLON
126 W Main Street
Babylon, NY 11702 Office: 631.422.3100
BAY SHORE
94 West Main Street
Bay Shore, NY 11706
Office: 631.647.4880
COLD SPRING HARBOR
157 Main Street
Cold Spring Harbor, NY 11724 Office: 631.692.4800
DIX HILLS
15 East Deer Park Road
Dix Hills, NY 11746 Office: 631.673.3900
EAST NORTHPORT
190 Laurel Road
East Northport, NY 11731 Office: 631.368.6800
EAST SETAUKET
750 Route 25A
East Setauket, NY 11733
Office: 631.751.2111
GARDEN CITY
730 Franklin Avenue
Garden City, NY 11530
Office: 516.741.4333
HAMPTON BAYS
26 East Montauk Highway
Hampton Bays, NY 11946 Office: 631.728.1900
HUNTINGTON
157 East Main Street
Huntington, NY 11743 Office: 631.673.3700
MASSAPEQUA PARK
1000 Park Boulevard
Masspapequa Park, NY 11762 Office: 516.799.7100
MERRICK
324 Merrick Avenue
Merrick, NY 11566 Office: 516.546.6300
MILLER PLACE
275 Route 25A
Miller Place, NY 11764 Office: 631.642.2300
NORTHPORT
180 Main Street
Northport, NY 11768 Office: 631.754.3600
ROCKVILLE CENTRE
75 Seaman Avenue
Rockville Centre, NY 11570 Office: 516.766.7900
RONKONKOMA
4949 Express Drive N Suite 104
Ronkonkoma, NY 11779 Office: 631.585.8400
SARASOTA
1433 Main Street
Sarasota, FL, 34236 Office: 941.362.4100
SAYVILLE
95 Main Street
Sayville, NY 11782
Office: 631.567.0100
SMITHTOWN
7 West Main Street
Smithtown, NY 11787
Office: 631.360.2800
SOUTHOLD
53935 Main Road
Southold, NY, 11971 Office: 631.765.6000
SYOSSET
33 Jackson Avenue Syosset, NY 11791 Office: 516.921.1400
WADING RIVER
6347 Route 25A
Wading River, NY 11792 Office: 631.495.5678
WANTAGH
1867 Wantagh Avenue
Wantagh, NY 11793 Office: 516.785.0100
MAIN: 877.273.3750