Is 11566, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11566 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 11566 was a Seller's Market.

Key Takeaway

11566 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 11566, NY

How much do homes in 11566, NY cost?

Median Sold Price

$795,000

$424/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$47,666(+6.4%)

Key Takeaway

Homes in 11566 have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in 11566 was $795,000 in October 2024, up 6.4% from last year, and the median price per square foot was $424.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $194.5K$380K
+95.4%
2 $515K$497.5K
-3.4%
3 $622K$728K
+17.0%
4 $800K$841K
+5.1%
5+ $880K$1.0M
+14.8%

Summary: 11566 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 95.4%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 14.8%.

Median Sold Price Compared To Nearby Zip Codes

11710
+9.9%
11520
+9.6%
11566
+6.4%
11575
+4.5%

Housing Supply in 11566, NY

How many homes are available in 11566, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
126120-4.8%

Summary: The 11566 real estate market had 120 homes for sale in October 2024, a 4.8% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 46
+50.0%
3 4240
-4.8%
4 5956
-5.1%
5+ 2118
-14.3%

Summary: The 11566 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3119-38.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11566, you could pay more than the asking price. 68.4% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in 11566 in October 2024, down by 38.7% month-over-month. Of the 19 sold homes, 21% were sold under asking, 11% were sold at asking, and 68% were sold over asking.

Days on Market for 11566, NY

How long does it take to sell a home in 11566, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days35 Days-9.1%

Summary: Homes in 11566 had an average of 35 days on market in Oct 2024, down by 9.1% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 11566 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 19 homes were sold in 11566; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% 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 11566, NY

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