$10,000 Closing Credit*
$1,450,000
Listing Office: Max It Realty
Is Jamaica, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Jamaica has remained a Buyer's Market.
Key Takeaway
Jamaica is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Jamaica, NY
How much do homes in Jamaica, NY cost?
Median Sold Price
$750,000
$477/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$47,500(-6.0%)
Key Takeaway
Homes in Jamaica have sold for 6% less than they did a month ago.
Summary: The median home sold price in Jamaica was $750,000 in November 2024, down 6% from last month, and the median price per square foot was $477.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $160K | -34.7% |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $699K | $740K | +5.9% |
| 4 Bedrooms | $995K | $885K | -11.1% |
| 5+ Bedrooms | $925K | $1.0M | +18.8% |
Summary: Jamaica housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 34.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 18.8%.
Housing Supply in Jamaica, NY
How many homes are available in Jamaica, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 140 | 143 | +2.1% |
Summary: The Jamaica real estate market had 143 homes for sale in November 2024, a 2.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 14 | -17.6% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 31 | 30 | -3.2% |
| 4 Bedrooms | 24 | 29 | +20.8% |
| 5+ Bedrooms | 53 | 54 | +1.9% |
Summary: The Jamaica housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 17.6%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 1.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 11 | -21.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Jamaica, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Jamaica in November 2024, down by 21.4% month-over-month. Of the 11 sold homes, 64% were sold under asking, 27% were sold at asking, and 9% were sold over asking.
Days on Market for Jamaica, NY
How long does it take to sell a home in Jamaica, NY?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 69 Days | 110 Days | +60.2% |
Summary: Homes in Jamaica had an average of 110 days on market in Nov 2024, up by 60.2% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Jamaica are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 11 homes were sold in Jamaica; 27% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
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