The Commack real estate market had a major first in February 2021, when the median home sale price crossed the $600K mark. Now as we head toward the close of a year that saw the median sales price fall below that line only once, that benchmark in Commack was up last month in a year-on-year comparison. Also up were the number of homes selling above list price, while the average number of days homes stayed on the market also rose. What else is happening there? Welcome to this week’s Long Island HOME Market Flash as we head to Commack, NY.
Commack homes sold for a median price of $620,000 this past November, an increase of 7.8% year on year, according to Redfin. Five years ago, the average median price was $432,500—the lowest point at any time in the past half-decade other than April of 2017, when it hit $422,194. In 2021, the median price has not gone below $577,000 in any month (hitting that number in May this year), while reaching a five-year high of $683,500 in June.
Commack Median Home Sales Price Over Prior 5 Years
November 2016 $432,500
November 2017 $485,000
November 2018 $515,000
November 2019 $525,000
November 2020 $575,500
Among all the Commack homes that sold in November 2021, the sale-to-list price of 102.2% represents an increase of 1.8% over 2020. The highest such number during the prior five-years was 103.1% this past September, versus a half-decade low of 96.2% in April 2017.
The average home in Commack stayed on the market for 30 days, a 52.5% increase from the 20-day average we saw in October. In March 2017, the average days on market was 162 days, the highest number at any time in the past five years.
Fewer homes were sold in Commack year on year—35 homes sold in November 2021, a decrease of 10.3% versus the 43 in same time period last year. The number of homes showing a drop in price was 9.5%, a decrease of 1.6% year on year, while the number of homes selling above list price rose 22.6% year on year.
According to Neighborhood Scout, the five most expensive Commack neighborhoods are Jericho Turnpike, Jericho Turnpike/Veterans Memorial Highway, Indian Head Road/Old Northport Road., Town Center, and Jericho Turnpike /Old Indian Head Road.