Maria Babaev | Luxury Homes Market Report
Mill Neck, NY 11765
Single-Family Homes
DOUGLAS ELLIMAN REAL ESTATE | LuxuryLongIsland.com | maria@luxurylongisland.com
Mill Neck, NY 11765
Thu Nov 21 2024
This week the median list price for Mill Neck, NY 11765 is $4,650,000 with the market action index hovering around 24. This is less than last month's market action index of 26. Inventory has increased to 15.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
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
| Median List Price | $4,650,000 | |
| Median Price of New Listings | $3,200,000 | |
| Per Square Foot | $602 | |
| Average Days on Market | 189 | |
| Median Days on Market | 98 | |
| Price Decreased | 33% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 15 | |
| Median Rent | ||
| Market Action | 24 | |
| Slight Buyer's Advantage | ||
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 |
|---|---|---|---|---|---|---|---|---|
| $10,888,000 | 7,830 | 5 - 10 acres | 7 | 9.5 | 96 | 0 | 0 | 63 |
| $7,637,500 | 11,962 | 5 - 10 acres | 6 | 8 | 97 | 0 | 0 | 255 |
| $3,599,999 | 8,263 | 2.5 - 5 acres | 7 | 6 | 82 | 1 | 0 | 38 |
| $1,897,750 | 3,798 | 0.25 - 0.5 acre | 4 | 3.8 | 66 | 0 | 0 | 129 |