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| MARCH 2025 | |||
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| Units Sold 119 |
Active Inventory 387 |
Median Sale Price $420,000 |
Days On Market 38 |
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| Down -29% Vs. Year Ago |
Down -15% Vs. Year Ago |
Up 6% Vs. Year Ago |
Down -5% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in March, with 119 sold this month in Suffolk City Real Estate versus 118 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 29% versus March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 67 units or 15%. The total number of active inventory this March was 387 compared to 454 in March 2024. This month's total of 387 is lower than the previous month's total supply of available inventory of 440, a decrease of 12%. |
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Median Sale Price
Last March, the median sale price for Suffolk City Homes was $394,900. This March, the median sale price was $420,000, an increase of 6% or $25,100 compared to last year. The current median sold price is 8% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 259 |
Current Contracts 213 |
Sold Vs. List Price 99.7% |
Months of Supply 3.3 |
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| No Change Vs. Year Ago |
Up 14% Vs. Year Ago |
Down -0.5% Vs. Year Ago |
Up 19% Vs. Year Ago |
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Months of Supply
In March, there was 3.3 months of supply available in Suffolk City, compared to 2.7 in March 2024. That is an increase of 20% 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. |
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New Listings & Current Contracts
This month there were 259 homes newly listed for sale in Suffolk City, which is similar to the amount in March 2024. There were 213 current contracts pending sale this March compared to 187 a year ago. The number of current contracts is 14% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Suffolk City was 99.7% of the average list price, which is 0.5% lower than at this time last year. Days on Market
This month, the average number of days on market was 38, lower than the average last year, which was 40, a decrease of 5%. | |||
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| *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. |
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