Is 11580, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11580 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 11580 was a Seller's Market.

Key Takeaway

11580 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 11580, NY

How much do homes in 11580, NY cost?

Median Sold Price

$680,000

$443/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$50,000(+7.9%)

Key Takeaway

Homes in 11580 have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in 11580 was $680,000 in October 2024, up 7.9% from last year, and the median price per square foot was $443.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $243K$245K
+0.8%
2 $449K$472.5K
+5.2%
3 $622.5K$660K
+6.0%
4 $650K$715K
+10.0%
5+ $717.5K$850K
+18.5%

Summary: 11580 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 18.5%.

Median Sold Price Compared To Nearby Zip Codes

11010
+15.4%
11003
+8.9%
11580
+7.9%
11565
+6.9%
11581
+1.4%

Housing Supply in 11580, NY

How many homes are available in 11580, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
137144+5.1%

Summary: The 11580 real estate market had 144 homes for sale in October 2024, a 5.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 53
-40.0%
2 1210
-16.7%
3 4853
+10.4%
4 4955
+12.2%
5+ 2323
0.0%

Summary: The 11580 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2618-30.8%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11580, you could pay more than the asking price. 72.2% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in 11580 in October 2024, down by 30.8% month-over-month. Of the 18 sold homes, 22% were sold under asking, 6% were sold at asking, and 72% were sold over asking.

Days on Market for 11580, NY

How long does it take to sell a home in 11580, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
40 Days43 Days+8.5%

Summary: Homes in 11580 had an average of 43 days on market in Oct 2024, up by 8.5% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 11580 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 18 homes were sold in 11580; 50% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 11% 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 11580, NY

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