Is 11598, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11598 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 11598 was a Seller's Market.

Key Takeaway

11598 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 11598, NY

How much do homes in 11598, NY cost?

Median Sold Price

$1,007,500

$412/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$53,750(+5.6%)

Key Takeaway

Homes in 11598 have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in 11598 was $1,007,500 in October 2024, up 5.6% from last year, and the median price per square foot was $412.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $175K$190K
+8.6%
2 $376.5K$318.2K
-15.5%
3 $750K$810K
+8.0%
4 $893.7K$950K
+6.3%
5+ $1.5M$1.3M
-14.4%

Summary: 11598 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes decreased by 15.5%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 14.4%.

Median Sold Price Compared To Nearby Zip Codes

11559
+41.6%
11516
+11.8%
11598
+5.6%
11581
+1.4%
11557
-9.3%

Housing Supply in 11598, NY

How many homes are available in 11598, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6265+4.8%

Summary: The 11598 real estate market had 65 homes for sale in October 2024, a 4.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 55
0.0%
3 54
-20.0%
4 1417
+21.4%
5+ 3536
+2.9%

Summary: The 11598 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 2.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11598, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 11598 in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 11598, NY

How long does it take to sell a home in 11598, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
100 Days52 Days-47.8%

Summary: Homes in 11598 had an average of 52 days on market in Oct 2024, down by 47.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 11598 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in 11598; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 3 Days Ago

Newest Listings in 11598, NY

Nearby Markets to 11598, NY