Is 11220, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11220 is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, 11220 has remained a Buyer's Market.

Key Takeaway

11220 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 11220, NY

How much do homes in 11220, NY cost?

Median Sold Price

$615,000

$822/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$505,000(-45.1%)

Key Takeaway

Homes in 11220 have sold for 45.1% less than they did a month ago.

Summary: The median home sold price in 11220 was $615,000 in November 2024, down 45.1% from last month, and the median price per square foot was $822.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 $450K$497.5K
+10.6%
2 $495K$525K
+6.1%
3 -$944K
N/A
4 $3.1M-
N/A
5+ $1.3M$1.6M
+23.1%

Summary: 11220 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 6.1%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes increased by 23.1%.

Housing Supply in 11220, NY

How many homes are available in 11220, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
120118-1.7%

Summary: The 11220 real estate market had 118 homes for sale in November 2024, a 1.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2224
+9.1%
2 2018
-10.0%
3 129
-25.0%
4 53
-40.0%
5+ 6164
+4.9%

Summary: The 11220 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 4.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1510-33.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11220, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 11220 in November 2024, down by 33.3% month-over-month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for 11220, NY

How long does it take to sell a home in 11220, NY?

Average Sale Time

Oct 2024Nov 2024CHANGE
60 Days116 Days+94.3%

Summary: Homes in 11220 had an average of 116 days on market in Nov 2024, up by 94.3% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 11220 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 10 homes were sold in 11220; 40% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% 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 21 Days Ago

Newest Listings in 11220, NY

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