August 2024 continues to showcase a dynamic real estate landscape in Suffolk County, New York. With rising prices, strong demand, and fast-moving properties, the market is shaping up as a seller’s paradise. Here’s a breakdown of the key trends from the latest data.

Seller's Market Still in Play

Suffolk County remains firmly in a seller's market, with 3.05 months of inventory, an increase of 14.1% month-over-month (MoM). Despite this increase, inventory is still well below the 6-month threshold that signals a balanced market, giving sellers an edge.

Rising Home Prices

The median sold price in Suffolk County reached $666,500 in August 2024, a 2.5% increase from the previous month. This reflects a steady appreciation in home values, with the median estimated property value rising to $657,310, a 10.7% year-over-year (YoY) increase.

Homes in Suffolk are also selling well above their asking price, with a list-to-sold price ratio of 102.1%, signaling that buyers are competing heavily for available properties.

Homes Selling Quickly

Properties in Suffolk County are flying off the market. The median days on market (DOM) is just 26 days, a 8.3% decrease MoM. Buyers need to act quickly to secure their homes in this fast-paced market.

4. Listing Trends

There were 1,540 new listings in August 2024, up 7.1% MoM, with a median list price of $679,000. The increase in listings provides some relief to buyers, but demand remains high, pushing prices upward.

Price Per Square Foot

The median price per square foot for sold homes in Suffolk County is $380, reflecting a 3.3% MoM increase. With the median living area for homes sold being 1,884 square feet, this figure showcases the value buyers are placing on available space in Suffolk County.

Final Thoughts

Suffolk County's real estate market remains a competitive and robust environment for sellers as we head into the final months of 2024. Rising home prices, quick sales, and limited inventory continue to drive the market, making it essential for both buyers and sellers to stay informed and act strategically.


Whether you're looking to buy or sell in Suffolk County, understanding these market dynamics is crucial. For personalized insights and guidance, reach out to Educators Realty.