Smithtown Housing Market Report December 2024•Suffolk County, New York

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Housing Prices in Smithtown, NY

How much do homes in Smithtown, NY cost?

Housing Market Conditions

Is Smithtown, NY a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Smithtown is a Seller's Market

Difference Since December 2023

Since last year, Smithtown has remained a Seller's Market.

Insight

Smithtown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$731,714$359/SqFt
+$54,776
+8.1%

Based on all homes sold in the last 12 months

Insight

Homes in Smithtown have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Smithtown was $731,714 in December 2024, up 8.1% from last year, and the median price per square foot was $359.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Smithtown
+8.1%
Head of the Harbor
+4.4%
Lake Grove
+1.8%
Nissequogue
0.0%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$340K$409.5K
+20.4%
2$495K$531.3K
+7.3%
3$626K$680K
+8.6%
4$730K$795.1K
+8.9%
5$850K$875K
+2.9%

Summary: Smithtown housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +20.4%. The home price for 2 bedroom homes increased by +7.3%. The home price for 3 bedroom homes increased by +8.6%. The home price for 4 bedroom homes increased by +8.9%. The home price for 5 bedroom homes increased by +2.9%.

Housing supply in Smithtown, NY

How many homes are available in Smithtown, NY?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
397Last MonthDec 2024
4422 months agoNov 2024
-10.2 %
Change MoMNov – Dec

Summary: The Smithtown real estate market had 397 homes for sale in Dec 2024, a 10.2 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
90Last MonthDec 2024
792 months agoNov 2024
+13.9 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
197
-22.2%
23030
0.0%
3129108
-16.3%
4181174
-3.9%
59378
-16.1%

Summary: Smithtown housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -22.2%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -16.3%. The inventory for 4 bedroom homes decreased by -3.9%. The inventory for 5 bedroom homes decreased by -16.1%.

Asking Price vs. Sold Price

How much do homes in Smithtown, NY cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price52 Homes

At Asking Price9 Homes

Under Asking Price29 Homes

Insight

If you're buying a home in Smithtown, you could pay more than the asking price. 57.8% of homes here sold above asking price last month.

Summary: A total of 90 homes were sold or pending in Smithtown in December 2024, up by 13.9% month-over-month. Of the 90 sold homes, 32% were sold under asking, 10% were sold at asking, and and 58% were sold over asking.

Days on Market for Smithtown, NY

How long does it take to sell a home in Smithtown, NY?

Breakdown of Home Sale Times

Under 30 Days51 Homes

30 – 90 Days31 Homes

Over 90 Days8 Homes

Insight

Many homes in Smithtown are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 90 homes were sold in Smithtown; 57% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
33 DaysThis YearDec 2024
41 Days1 year agoDec 2023
-20.7 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Smithtown had an average listing age of 33 days in Dec 2024, down by 20.7% compared to the previous year.

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Newest Listings in Smithtown, NY

What homes are available in Smithtown, NY?

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MLS Disclaimers and Copyright

Based on information from OneKey MLS, for the period 01/01/2023 - 01/01/2025

IDX Listings courtesy of OneKey MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDXThe 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.

The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.

Information Copyright 2025, OneKey™ MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 1/17/2025, 10:11:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.