The Wantagh real estate market remains very competitive as we head into the heart of the holiday season. The median sales price was up last month in a year-on-year comparison, while the latest data shows that the number of homes selling above list price was also up over last year’s numbers, while the average number of days homes stayed on the market fell. What else is happening there? Welcome to this week’s Long Island HOME Market Flash as we head to Wantagh, NY.
Wantagh homes sold for a median price of $589,500 this past October, an increase of 5.7% year on year, according to Redfin. Five years ago, the average median price was $425,100—and in January of 2017 it hit a five-year low of $415,000. In 2021, the median price has not gone below $560,000 in any month (hitting that number in both April and August this year), while reaching a high of $650,000 in June.
Wantagh Median Home Sales Price Over Prior 5 Years
October 2016 $425,100
October 2017 $468,000
October 2018 $475,000
October 2019 $560,000
October 2020 $557,500
Among all the Wantagh homes that sold in October 2021, the sale-to-list price of 101.3% represents an increase of 2.3% over 2020. The highest such number during the prior five-years was 104.2% this past June, versus a half-decade low of 94.7% in February 2017.
The average home in Wantagh stayed on the market for 26 days, a 16.1% drop from the 31-day average we saw last October, but part of a steady rise over the past four months, from the 17 days in June, 19 in July, 21 in August and 23 in September. In April 2020, the average days on market was 91 days, the highest number at any time in the past five years.
Fewer homes were sold in Wantagh year on year—34 homes sold in October 2021, a decrease of 8.1% versus the 37 in same time period last year. The number of homes showing a drop in price was 13.9%, a decrease of 47.2% year on year, while the number of homes selling above list price rose 37.8% year on year.
According to Neighborhood Scout, the five most expensive Wantagh neighborhoods are North Wantagh, Town Center, Islip Ct./Riverside Dr., N. Jerusalem Rd./Oakfield Ave., and Jerusalem Ave/Tusk Ln.