Is 11427, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11427 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 11427 was a Seller's Market.

Key Takeaway

11427 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 11427, NY

How much do homes in 11427, NY cost?

Median Sold Price

$355,000

$522/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$68,750(-16.2%)

Key Takeaway

Homes in 11427 have sold for 16.2% less than they did a year ago.

Summary: The median home sold price in 11427 was $355,000 in October 2024, down 16.2% from last year, and the median price per square foot was $522.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $220K$262.5K
+19.3%
2 $262K$287.5K
+9.7%
3 $800K$900K
+12.5%
4 $992.5K$855K
-13.9%
5+ $1.2M$1.3M
+5.2%

Summary: 11427 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 13.9%, and 5+ bedroom homes increased by 5.2%.

Median Sold Price Compared To Nearby Zip Codes

11423
+8.0%
11364
+7.8%
11426
+4.4%
11427
-16.2%

Housing Supply in 11427, NY

How many homes are available in 11427, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7068-2.9%

Summary: The 11427 real estate market had 68 homes for sale in October 2024, a 2.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 65
-16.7%
2 2826
-7.1%
3 1817
-5.6%
4 1012
+20.0%
5+ 88
0.0%

Summary: The 11427 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11427, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 11427 in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.

Days on Market for 11427, NY

How long does it take to sell a home in 11427, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
110 Days82 Days-25.2%

Summary: Homes in 11427 had an average of 82 days on market in Oct 2024, down by 25.2% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 11427 has remained consistent over time.

Summary: During October 2024, 7 homes were sold in 11427; 0% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 43% 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 3 Days Ago

Newest Listings in 11427, NY

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