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
Thu Nov 21 2024
This week the median list price for Old Westbury, NY 11568 is $4,888,000 with the market action index hovering around 27. This is an increase over last month's market action index of 26. Inventory has decreased to 27.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $4,888,000 | |
| Median Price of New Listings | $4,500,000 | |
| Per Square Foot | $718 | |
| Average Days on Market | 261 | |
| Median Days on Market | 161 | |
| Price Decreased | 48% | |
| Price Increased | 4% | |
| Relisted | 0% | |
| Inventory | 27 | |
| Median Rent | ||
| Market Action | 27 | |
| Slight Buyer's Advantage | ||
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
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 | 11,864 | 5 - 10 acres | 7 | 9 | 30 | 0 | 0 | 210 |
| $5,795,000 | 7,233 | 2.5 - 5 acres | 6 | 6 | 22 | 0 | 0 | 147 |
| $4,500,000 | 5,860 | 1 - 2.5 acres | 6 | 6.5 | 46 | 1 | 1 | 161 |
| $2,099,999 | 4,294 | 1 - 2.5 acres | 5 | 3.5 | 66 | 0 | 1 | 161 |