Is Richmond County, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richmond County is a buyer's market

Buyer's
Market

Difference Since May 2023

Since last year, Richmond County has remained a Buyer's Market.

Key Takeaway

Richmond County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Richmond County, NY

How much do homes in Richmond County, NY cost?

Median Sold Price

$661,571

$400/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,883(+1.8%)

Key Takeaway

Homes in Richmond County have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in Richmond County was $661,571 in May 2024, up 1.8% from last year, and the median price per square foot was $400.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $302.5K$338.7K
+12.0%
2 $450K$470K
+4.4%
3 $637.6K$650K
+1.9%
4 $787.5K$820K
+4.1%
5+ $874K$950K
+8.7%

Summary: Richmond County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 8.7%.

Median Sold Price Compared To Nearby Counties

Union County
+10.7%
Richmond County
+1.8%

Housing Supply in Richmond County, NY

How many homes are available in Richmond County, NY?

Number of Homes For Sale

Apr 2024May 2024CHANGE
460500+8.7%

Summary: The Richmond County real estate market had 500 homes for sale in May 2024, a 8.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 2225
+13.6%
2 7568
-9.3%
3 197220
+11.7%
4 88100
+13.6%
5+ 7887
+11.5%

Summary: The Richmond County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.6%, 2 bedroom homes decreased by 9.3%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 11.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5362+17.0%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richmond County, you may be able to get a good deal. 64.5% of homes here sold below asking price last month.

Summary: A total of 62 homes were sold or pending in Richmond County in May 2024, up by 17.0% month-over-month. Of the 62 sold homes, 65% were sold under asking, 23% were sold at asking, and 13% were sold over asking.

Days on Market for Richmond County, NY

How long does it take to sell a home in Richmond County, NY?

Average Sale Time

May 2023May 2024CHANGE
90 Days94 Days+3.9%

Summary: Homes in Richmond County had an average of 94 days on market in May 2024, up by 3.9% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

22 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Richmond County has remained consistent over time.

Summary: During May 2024, 62 homes were sold in Richmond County; 18% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Richmond County, NY

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What housing markets are near Richmond County, NY?