Vincent Puleo, Clerk of Suffolk County | https://suffolkcountyny.gov/
Vincent Puleo, Clerk of Suffolk County | https://suffolkcountyny.gov/
There were 342 homes sold in May, with a median sale price of $576,500 — a 10.9% increase over the $520,000 median sale price during the same period of the previous year. In comparison, 885 homes were sold in Suffolk County in May 2023.
The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.
“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.
The following histogram displays changes in median sales prices in Suffolk County from May 2023 to May 2024.
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