Is 11518, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11518 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 11518 was a Buyer's Market.

Key Takeaway

11518 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 11518, NY

How much do homes in 11518, NY cost?

Median Sold Price

$620,000

$381/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,500(+7.0%)

Key Takeaway

Homes in 11518 have sold for 7% more than they did a year ago.

Summary: The median home sold price in 11518 was $620,000 in October 2024, up 7% from last year, and the median price per square foot was $381.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $259K$270K
+4.2%
2 $455K$490K
+7.7%
3 $577K$600K
+4.0%
4 $713.7K$710K
-0.5%
5+ $776.4K$822K
+5.9%

Summary: 11518 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Zip Codes

11563
+9.6%
11572
+9.0%
11518
+7.0%
11570
0.0%
11557
-9.3%

Housing Supply in 11518, NY

How many homes are available in 11518, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5958-1.7%

Summary: The 11518 real estate market had 58 homes for sale in October 2024, a 1.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 86
-25.0%
2 913
+44.4%
3 1919
0.0%
4 1514
-6.7%
5+ 86
-25.0%

Summary: The 11518 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 44.4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1210-16.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11518, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in 11518 in October 2024, down by 16.7% month-over-month. Of the 10 sold homes, 30% were sold under asking, 20% were sold at asking, and 50% were sold over asking.

Days on Market for 11518, NY

How long does it take to sell a home in 11518, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
58 Days51 Days-11.5%

Summary: Homes in 11518 had an average of 51 days on market in Oct 2024, down by 11.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 11518 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 10 homes were sold in 11518; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 4 Days Ago

Newest Listings in 11518, NY

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