$10,000 Closing Credit*
$850,000
1,300 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: ALUX Realty
Is Far Rockaway, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Far Rockaway was a Seller's Market.
Key Takeaway
Far Rockaway is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Far Rockaway, NY
How much do homes in Far Rockaway, NY cost?
Median Sold Price
$600,000
$264/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$110,000(-15.5%)
Key Takeaway
Homes in Far Rockaway have sold for 15.5% less than they did a month ago.
Summary: The median home sold price in Far Rockaway was $600,000 in November 2024, down 15.5% from last month, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $250K | +85.2% |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $612K | - | N/A |
| 4 Bedrooms | $691.5K | - | N/A |
| 5+ Bedrooms | $872K | $691.7K | -20.7% |
Summary: Far Rockaway housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes increased by 85.2%, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 20.7%.
Housing Supply in Far Rockaway, NY
How many homes are available in Far Rockaway, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 51 | 50 | -2.0% |
Summary: The Far Rockaway real estate market had 50 homes for sale in November 2024, a 2.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 33 | 33 | 0.0% |
Summary: The Far Rockaway housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Far Rockaway, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Far Rockaway in November 2024, down by 44.4% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Far Rockaway, NY
How long does it take to sell a home in Far Rockaway, NY?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 106 Days | +173.5% |
Summary: Homes in Far Rockaway had an average of 106 days on market in Nov 2024, up by 173.5% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Far Rockaway has remained consistent over time.
Summary: During November 2024, 5 homes were sold in Far Rockaway; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% 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. 
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