Is 11561, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11561 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 11561 was a Neutral Market.

Key Takeaway

11561 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 11561, NY

How much do homes in 11561, NY cost?

Median Sold Price

$773,200

$541/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$83,200(+12.1%)

Key Takeaway

Homes in 11561 have sold for 12.1% more than they did a year ago.

Summary: The median home sold price in 11561 was $773,200 in October 2024, up 12.1% from last year, and the median price per square foot was $541.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $407.5K$449K
+10.2%
2 $602.5K$682K
+13.2%
3 $744.5K$779K
+4.6%
4 $910K$1.0M
+18.1%
5+ $955K$1.0M
+14.7%

Summary: 11561 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 14.7%.

Median Sold Price Compared To Nearby Zip Codes

11561
+12.1%
11509
+8.0%
11558
+7.6%

Housing Supply in 11561, NY

How many homes are available in 11561, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
265254-4.2%

Summary: The 11561 real estate market had 254 homes for sale in October 2024, a 4.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 6257
-8.1%
2 4642
-8.7%
3 5754
-5.3%
4 5057
+14.0%
5+ 5044
-12.0%

Summary: The 11561 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.1%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 14%, and 5+ bedroom homes decreased by 12%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3930-23.1%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11561, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in 11561 in October 2024, down by 23.1% month-over-month. Of the 30 sold homes, 67% were sold under asking, 13% were sold at asking, and 20% were sold over asking.

Days on Market for 11561, NY

How long does it take to sell a home in 11561, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
64 Days65 Days+1.7%

Summary: Homes in 11561 had an average of 65 days on market in Oct 2024, up by 1.7% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 11561 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 30 homes were sold in 11561; 40% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 23% 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 11561, NY

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