Market Flash: Smithtown Real Estate Stays Strong

10/11/2021
House For Sale Smithtown

Smithtown real estate is still going strong here in autumn 2021, as buyers remain bullish in the home of the famous bull. The median sales price of homes in Smithtown was up year on year, along with the sale-to-list price and the number of homes that sold for higher than the list price, from a look at the real estate numbers that came in for last month. Welcome to this week’s Long Island HOME Market Flash as we head to Smithtown, NY.

Smithtown homes sold for a median price of $640,000 this past September, an increase of 17.5% year on year, according to Redfin. Five years ago, the average median price was $447,250, a number that has continuously risen each year following, dipped slightly year on year in 2019 and then began another upward trend over the next two years.

Smithtown Median Home Sales Price
September 2016 $447,250
September 2017 $472,000
September 2018 $527,500
September 2019 $523,635
September 2020 $544,500

Nearly 7 in 10—65.1%—of the homes that sold in September went above the list price, an increase of 76.2% over last year’s activity, the highest such number during the entire prior five-year period with the exception of the 68.9% we saw this past July. Overall, the sale to list price for Smithtown was 101% of the list, an increase of 2% over prior year.

The average home in Smithtown remained on the market for 22 days, a 45% change from the 40-day average a year ago. (In March 2017, the average days on market was 117 days, the highest number in the past five years). Fewer homes were sold in Smithtown year on year—43 homes sold in September 2021, a drop of 6.5% from the same period of time last year—while the number of homes showing a drop in price fell 6% year on year.

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