 |
|||
 |
|||
| | |||
| MAY 2025 | |||
| | |||
| Units Sold 178 |
Active Inventory 428 |
Median Sale Price $426,000 |
Days On Market 39 |
|
|
|
|
|
| Down -9% Vs. Year Ago |
Down -17% Vs. Year Ago |
Up 7% Vs. Year Ago |
Up 15% Vs. Year Ago |
| | |||
Units Sold
There was an increase in total units sold in May, with 178 sold this month in Suffolk City Real Estate versus 171 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 9% versus May 2024. |
|||
Active Inventory
Versus last year, the total number of homes available this month is lower by 85 units or 17%. The total number of active inventory this May was 428 compared to 513 in May 2024. This month's total of 428 is lower than the previous month's total supply of available inventory of 467, a decrease of 8%. |
|||
Median Sale Price
Last May, the median sale price for Suffolk City Homes was $397,900. This May, the median sale price was $426,000, an increase of 7% or $28,100 compared to last year. The current median sold price is 7% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
|||
| | |||
| New Listings 281 |
Current Contracts 230 |
Sold Vs. List Price 99.9% |
Months of Supply 2.4 |
|
|
|
|
|
| No Change Vs. Year Ago |
Up 31% Vs. Year Ago |
No Change Vs. Year Ago |
Down -9% Vs. Year Ago |
| | |||
Months of Supply
In May, there was 2.4 months of supply available in Suffolk City, compared to 2.6 in May 2024. That is a decrease of 9% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
|||
New Listings & Current Contracts
This month there were 281 homes newly listed for sale in Suffolk City, which is similar to the amount in May 2024. There were 230 current contracts pending sale this May compared to 176 a year ago. The number of current contracts is 31% higher than last May. |
|||
Sale Price to List Price Ratio
In May, the average sale price in Suffolk City was 99.9% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 39, higher than the average last year, which was 34, an increase of 15%. | |||
 |
|||
| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by REIN and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of REIN or Long & Foster Real Estate, Inc. |
|||