Syosset real estate is still moving ahead at a strong pace just as we’ve turned back the clocks here in early November. A look at the most recent numbers shows that the median sales price of homes in Syosset was up year on year in last month, as was the sale-to-list price, while the total number of homes that sold dropped. What else is happening there? Welcome to this week’s Long Island HOME Market Flash as we head to Syosset, NY.
Syosset homes sold for a median price of $880,00 this past October, an increase of 4.6% year on year, according to Redfin. Five years ago, the average median price was $725,000. In the half decade since, the average median price has dipped to a low of $610,000 (in April 2017) but it has not dropped below $712,000 since March 2018.
Syosset Median Home Sales Price
October 2016 $725,000
October 2017 $770,000
October 2018 $765,000
October 2019 $735,000
October 2020 $841,500
Among all the Syossethomes that sold in October 2021, the sale-to-list price of 99.6%% showed an increase of 2.5% over 2020. This is the fourth highest such number during the prior five-years, all of which were hit this year: 101.2% this past August, 100.7% in June, and 100.3% in September,
The average home in Syosset stayed on the market for 29 days, a 40.8% drop from the 68-day average we saw last October. This number has been on the rise each month since hitting a low of 19 days in July 2021. In March 2019, the average days on market was 203 days, the highest number at any time in the past five years.
Fewer homes were sold in Syosset year on year—37 homes sold in October 2021, a decrease of 19.6% from the same period of time last year, but an increase over 27 in September 2021. The number of homes showing a drop in price increased 11.7% year on year.
According to Neighborhood Scout, the four highest appreciating Syosset neighborhoods since the year 2000 have been Locust Grove/New York College of Health Professions, Town Center, Woodbury Road/Den Place, and Convent Road/Barry Lane.