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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Merrick is a neutral's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

Merrick is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Merrick, NY

How much do homes in Merrick, NY cost?

Median Sold Price

$810,000

$421/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$30,100(+3.9%)

Key Takeaway

Homes in Merrick have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Merrick was $810,000 in October 2024, up 3.9% from last year, and the median price per square foot was $421.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$500K
N/A
2 $515K$475K
-7.8%
3 $632.5K$706.5K
+11.7%
4 $815K$870K
+6.7%
5+ $880K$984.5K
+11.9%

Summary: Merrick 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 decreased by 7.8%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 11.9%.

Median Sold Price Compared To Nearby Neighborhoods

North Merrick
+17.4%
North Bellmore
+11.1%
Bellmore
+10.5%
Town of Hempstead
+10.1%
Merrick
+3.9%

Housing Supply in Merrick, NY

How many homes are available in Merrick, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7278+8.3%

Summary: The Merrick real estate market had 78 homes for sale in October 2024, a 8.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 35
+66.7%
3 1922
+15.8%
4 3839
+2.6%
5+ 1212
0.0%

Summary: The Merrick 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 66.7%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1512-20.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Merrick, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Merrick in October 2024, down by 20.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 8% were sold at asking, and 67% were sold over asking.

Days on Market for Merrick, NY

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

Average Sale Time

Oct 2023Oct 2024CHANGE
37 Days43 Days+17.6%

Summary: Homes in Merrick had an average of 43 days on market in Oct 2024, up by 17.6% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 12 homes were sold in Merrick; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% 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 21 Days Ago

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