Is 11716, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 11716 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 11716 was a Seller's Market.

Key Takeaway

11716 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 11716, NY

How much do homes in 11716, NY cost?

Median Sold Price

$651,000

$317/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$61,000(+10.3%)

Key Takeaway

Homes in 11716 have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in 11716 was $651,000 in October 2024, up 10.3% from last year, and the median price per square foot was $317.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $539.5K$551.7K
+2.3%
3 $576.2K$655.5K
+13.8%
4 $680K$705K
+3.7%
5+ $672.5K$775K
+15.2%

Summary: 11716 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 15.2%.

Median Sold Price Compared To Nearby Zip Codes

11769
+18.7%
11782
+18.6%
11752
+11.8%
11716
+10.3%
11779
+8.6%

Housing Supply in 11716, NY

How many homes are available in 11716, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2729+7.4%

Summary: The 11716 real estate market had 29 homes for sale in October 2024, a 7.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 1112
+9.1%
4 75
-28.6%
5+ 46
+50.0%

Summary: The 11716 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 20%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
64-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 11716, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in 11716 in October 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.

Days on Market for 11716, NY

How long does it take to sell a home in 11716, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days30 Days-24.4%

Summary: Homes in 11716 had an average of 30 days on market in Oct 2024, down by 24.4% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 11716 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in 11716; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 11716, NY

Nearby Markets to 11716, NY