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 23 Days Ago

Newest Listings in 11518, NY

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