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. Click here to stay informed with the Mill Neck market!

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.

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. Click here to stay informed with the Mill Neck market!

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

Never miss important changes in the Mill Neck market.
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

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
$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