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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Merrick is a buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in North Merrick, NY

How much do homes in North Merrick, NY cost?

Median Sold Price

$795,500

$448/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$118,000(+17.4%)

Key Takeaway

Homes in North Merrick have sold for 17.4% more than they did a year ago.

Summary: The median home sold price in North Merrick was $795,500 in October 2024, up 17.4% from last year, and the median price per square foot was $448.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $194.5K$326.2K
+67.7%
2 $557.5K$605K
+8.5%
3 $611.5K$752.5K
+23.1%
4 $780K$801K
+2.7%
5+ $930K$1.3M
+40.9%

Summary: North Merrick housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.7%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 40.9%.

Median Sold Price Compared To Nearby Neighborhoods

North Merrick
+17.4%
East Meadow
+13.1%
North Bellmore
+11.1%
Barnum Woods Proper
+7.8%
Barnum Woods
+6.6%

Housing Supply in North Merrick, NY

How many homes are available in North Merrick, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4938-22.4%

Summary: The North Merrick real estate market had 38 homes for sale in October 2024, a 22.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1916
-15.8%
4 2015
-25.0%
5+ 96
-33.3%

Summary: The North 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 remained the same, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
145-64.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Merrick, you could pay more than the asking price. 80% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in North Merrick in October 2024, down by 64.3% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.

Days on Market for North Merrick, NY

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

Average Sale Time

Oct 2023Oct 2024CHANGE
44 Days22 Days-48.3%

Summary: Homes in North Merrick had an average of 22 days on market in Oct 2024, down by 48.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 5 homes were sold in North Merrick; 80% of homes were sold within 30 days, 20% 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 21 Days Ago

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