If you’re considering selling your Suffolk County, NY home, it’s natural to have questions and concerns about whether now is the right time to do so. However, it’s important to ensure your decisions are based on facts rather than misconceptions. Here are some key insights about the Suffolk County real estate market that may help put your mind at ease.
- Should I Really Move Right Now?
Many homeowners hesitate to sell because they don’t want to take on a higher mortgage rate for their next home. However, your move might be more feasible than you think, thanks to the equity your home has built over time.
Think about it—have any of your neighbors sold their homes recently? If so, have you noticed the selling prices? Home values have risen significantly in recent years, and the numbers may surprise you. According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), the average homeowner has gained $147,000 in home equity over the past five years. That’s a significant amount—one that could help finance your next move.
- Will I Be Able to Find a Home I Like?
This concern is understandable, especially after the competitive housing market that developed during and after the COVID-19 pandemic. However, inventory levels are improving. Nationally, home listings have increased by nearly 25% compared to this time last year, according to Realtor.com.
While inventory is still below pre-pandemic levels, experts predict another 10–15% increase this year. Suffolk County is following a similar trend. According to the Federal Reserve, there were 2,820 single-family and condo/townhome listings in January 2024. By January 2025, that number had risen to 2,918—a 3% increase. More listings mean more options for your next home.
- Are Buyers Still Buying?
If you’re worried that high mortgage rates and home prices have discouraged buyers, consider this perspective. While home sales were lower last year compared to a normal market, 4.24 million homes were still sold (excluding new construction), according to the NAR. That number is expected to rise in 2025. But even if sales remain steady, here’s what that looks like in real-time:
- 4.24 million homes ÷ 365 days = 11,616 homes sold per day
- 11,616 homes ÷ 24 hours = 484 homes sold per hour
- 484 homes ÷ 60 minutes = 8 homes sold every minute
Think about it—just in the time you’ve read this, eight homes have sold. The market isn’t stagnant—buyers are actively searching for homes like yours every day.
Team Rita Is Here to Answer Your Questions
Selling your Suffolk County home is a big decision, and getting expert guidance is key. Team Rita is here to provide local market insights, professional advice, and the support you need to navigate the process smoothly. Whether you’re a first-time seller or an experienced homeowner, we’ll help you avoid costly mistakes and secure the best deal possible.
Have questions about selling your home in Suffolk County, Long Island? We’d love to help! Call us at (631) 332-7897 or contact us today via this website.
