Real Estate Market Conditions

As of August 2024, the Lynbrook real estate market shows the following trends:

• Median Sale Price: $653,000 (up 7.1% from last year)
• Median Price Per Square Foot: $416
• Average Days on Market: 21 days (down from 39 days last year)
• Homes Sold: 19 in August (up from 11 last year)

The Lynbrook housing market is considered somewhat competitive, with a Redfin Compete Score of 64 out of 100.

Market Competitiveness

Key indicators of market competitiveness include:

• Some homes receive multiple offers
• Average homes sell for about 1% above list price
• Hot homes can sell for about 5% above list price and go pending in around 14 days
• 45% of homes sold above asking price in August 2024

Housing Inventory

As of August 2024, Lynbrook’s housing inventory shows:

• Total Homes For Sale: 103 (up 7.3% from July 2024)
• Breakdown by Bedroom Count:
  • 1 Bedroom: 14 homes (down 6.7%)
  • 2 Bedrooms: 10 homes (down 9.1%)
  • 3 Bedrooms: 34 homes (no change)
  • 4 Bedrooms: 26 homes (up 30%)
  • 5+ Bedrooms: 19 homes (up 18.8%)

Education

Lynbrook is served by the Lynbrook Union Free School District, which includes:

• West End School (Grades 1-5)
• Marion Street School (Grades K-5)
• Waverly Park School (Grades 1-5)
• Lynbrook South Middle School
• Lynbrook North Middle School
• Lynbrook High School

Community and Lifestyle

Lynbrook offers residents:

• Strong sense of community with various local events
• Proximity to New York City for commuters
• Diverse dining and shopping options
• Access to parks and recreational facilities

Migration Trends

Lynbrook’s migration trends include:

• 3% of homebuyers searched to move into Lynbrook from outside metros
• 69% of Lynbrook homebuyers searched to stay within the metropolitan area
• Miami, Philadelphia, and Boston were popular destinations for outbound Lynbrook homebuyers

Conclusion

Lynbrook, NY, offers a competitive housing market with rising home values and quick sales. Its strong school system, community spirit, and proximity to New York City make it an attractive option for families and professionals. Whether you’re looking to buy or sell in Lynbrook, understanding the current market trends is crucial for making informed decisions in this dynamic real estate environment.