$8,301 Closing Credit*
$699,000
2,062 SqFt
3 Beds
•2 Baths
#487486, Listing Office: Revived Residential
Is Broad Channel, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Broad Channel was a Buyer's Market.
Key Takeaway
Broad Channel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Broad Channel, NY
How much do homes in Broad Channel, NY cost?
Median Sold Price
$440,000
$395/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$132,500(-23.1%)
Key Takeaway
Homes in Broad Channel have sold for 23.1% less than they did a year ago.
Summary: The median home sold price in Broad Channel was $440,000 in October 2024, down 23.1% from last year, and the median price per square foot was $395.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $430K | $393K | -8.6% |
| 2 Bedrooms | $556K | $467K | -16.0% |
| 3 Bedrooms | $560K | $440K | -21.4% |
| 4 Bedrooms | $1.1M | - | N/A |
| 5+ Bedrooms | $664.7K | $930K | +39.9% |
Summary: Broad Channel housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.6%, 2 bedroom homes decreased by 16%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 39.9%.
Median Sold Price Compared To Nearby Neighborhoods
| The Rockaways | $680K | $672.7K | -1.1% |
| Broad Channel | $572.5K | $440K | -23.1% |
Housing Supply in Broad Channel, NY
How many homes are available in Broad Channel, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The Broad Channel real estate market had 17 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Broad Channel 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 decreased by 20%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Broad Channel, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Broad Channel in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Broad Channel, NY
How long does it take to sell a home in Broad Channel, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 98 Days | 138 Days | +40.8% |
Summary: Homes in Broad Channel had an average of 138 days on market in Oct 2024, up by 40.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Broad Channel are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 4 homes were sold in Broad Channel; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.