In July, the median sale price of a home in Suffolk County rose by $95,500 from the same period in the previous year, while total sales decreased by 67.9%, according to BlockShopper.com.
There were 263 homes sold in July, with a median sale price of $622,000 — an 18.1% increase over the $526,500 median sale price during the same period of the previous year. In comparison, 819 homes were sold in Suffolk County in July 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 July 2023 to July 2024.
