Melville’s rolling three-month snapshot shows a market with tightening inventory and softer contract activity. Active listings are down about 6% from a year ago, with 103 homes available and roughly 2.7 months of supply, up from 1.7 months last year. New listings and pending sales have each slipped year over year, indicating fewer fresh options and fewer deals moving into contract.
Pricing has been more resilient than listing activity suggests. The typical home value over the past three months is about $1.05 million, up roughly 12% compared with a year earlier, even as the median list price is down about 18% year over year. Sellers are still achieving strong results, with an average sale-to-list ratio just above 102% and more than half of recent sales closing above the asking price.
Homes are taking slightly longer to sell than they did a year ago, with the median days on market holding around 27 days in this rolling view, up from the quicker pace seen in mid-2024. At the same time, the share of homes selling above list has dipped a bit from last fall, suggesting buyers have a bit more room to negotiate even in a seller-leaning environment. Whether you are a buyer trying to interpret these shifting trends or a seller aiming to price and time your listing well, Agent Pronto can connect you with a local Melville agent who understands this market in detail.
