Maria Babaev | Luxury Homes Market Report

Old Westbury, NY 11568

Single-Family Homes

DOUGLAS ELLIMAN REAL ESTATE | LuxuryLongIsland.com | maria@luxurylongisland.com


Old Westbury, NY 11568

Fri May 03 2024
This week the median list price for Old Westbury, NY 11568 is $4,750,000 with the market action index hovering around 21. This is less than last month's market action index of 23. Inventory has increased to 27. Click here to stay informed with the Old Westbury market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.

Old Westbury, NY 11568

Fri May 03 2024
This week the median list price for Old Westbury, NY 11568 is $4,750,000 with the market action index hovering around 21. This is less than last month's market action index of 23. Inventory has increased to 27. Click here to stay informed with the Old Westbury market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.

Real-Time Market Profile

Never miss important changes in the Old Westbury market.
Median List Price $4,750,000
Median Price of New Listings $0
Per Square Foot $694
Average Days on Market 270
Median Days on Market 182
Price Decreased 26%
Price Increased 4%
Relisted 0%
Inventory 27
Median Rent
Market Action 21
Slight Buyer's Advantage

In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$12,250,000 13,902 5 - 10 acres 7 10 31 0 0 59
$5,980,000 9,800 2.5 - 5 acres 7 7.5 23 0 0 322
$3,998,000 5,600 1 - 2.5 acres 5 6 34 0 0 91
$2,788,000 4,688 1 - 2.5 acres 5 4.5 71 0 1 210