$8,301 Closing Credit*
$699,000
3 Beds
•1 Full Bath
Listing Office: EXP Realty
Is Richmond Hill, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Richmond Hill has remained a Buyer's Market.
Key Takeaway
Richmond Hill is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Richmond Hill, NY
How much do homes in Richmond Hill, NY cost?
Median Sold Price
$740,000
$439/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+0.7%)
Key Takeaway
Homes in Richmond Hill have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Richmond Hill was $740,000 in October 2024, up 0.7% from last year, and the median price per square foot was $439.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $246K | +7.0% |
| 2 Bedrooms | $435K | $442K | +1.6% |
| 3 Bedrooms | $675K | $687.2K | +1.8% |
| 4 Bedrooms | $772.5K | $752.5K | -2.6% |
| 5+ Bedrooms | $920K | $940K | +2.2% |
Summary: Richmond Hill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Neighborhoods
| South Ozone Park | $690K | $725K | +5.1% |
| Briarwood | $326.2K | $342K | +4.8% |
| Richmond Hill | $735K | $740K | +0.7% |
| Ozone Park | $749K | $720K | -3.9% |
| Kew Gardens | $345K | $289.5K | -16.1% |
Housing Supply in Richmond Hill, NY
How many homes are available in Richmond Hill, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 170 | 190 | +11.8% |
Summary: The Richmond Hill real estate market had 190 homes for sale in October 2024, a 11.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 45 | 54 | +20.0% |
| 4 Bedrooms | 42 | 48 | +14.3% |
| 5+ Bedrooms | 60 | 64 | +6.7% |
Summary: The Richmond Hill housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 20 | +53.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond Hill, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Richmond Hill in October 2024, up by 53.8% month-over-month. Of the 20 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market for Richmond Hill, NY
How long does it take to sell a home in Richmond Hill, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 86 Days | 94 Days | +9.8% |
Summary: Homes in Richmond Hill had an average of 94 days on market in Oct 2024, up by 9.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Richmond Hill are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 20 homes were sold in Richmond Hill; 25% of homes were sold within 30 days, 35% 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.
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