$8,609 Closing Credit*
$725,000
1,576 SqFt
3 Beds
•2 Full Baths
Listing Office: Century 21 Milestone Realty
Is South Jamaica, 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, South Jamaica has remained a Buyer's Market.
Key Takeaway
South Jamaica is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Jamaica, NY
How much do homes in South Jamaica, NY cost?
Median Sold Price
$697,500
$485/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$57,500(+9.0%)
Key Takeaway
Homes in South Jamaica have sold for 9% more than they did a year ago.
Summary: The median home sold price in South Jamaica was $697,500 in October 2024, up 9% from last year, and the median price per square foot was $485.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.5K | - | N/A |
| 2 Bedrooms | $510K | $549K | +7.6% |
| 3 Bedrooms | $610K | $660K | +8.2% |
| 4 Bedrooms | $730K | $720K | -1.4% |
| 5+ Bedrooms | $975K | $945K | -3.1% |
Summary: South Jamaica 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 increased by 7.6%, 3 bedroom homes increased by 8.2%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Neighborhoods
| South Jamaica | $640K | $697.5K | +9.0% |
| South Ozone Park | $690K | $725K | +5.1% |
| Southeastern Queens | $650K | $680.7K | +4.7% |
| Rochdale | $691.4K | $710K | +2.7% |
| Locust Manor | $650K | $653K | 0.5% |
Housing Supply in South Jamaica, NY
How many homes are available in South Jamaica, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 165 | 174 | +5.5% |
Summary: The South Jamaica real estate market had 174 homes for sale in October 2024, a 5.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 33 | 36 | +9.1% |
| 3 Bedrooms | 69 | 72 | +4.3% |
| 4 Bedrooms | 26 | 27 | +3.8% |
| 5+ Bedrooms | 35 | 37 | +5.7% |
Summary: The South Jamaica 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 9.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 5.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Jamaica, you may be able to get a good deal. 78.6% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in South Jamaica in October 2024, up by 16.7% month-over-month. Of the 14 sold homes, 79% were sold under asking, 14% were sold at asking, and 7% were sold over asking.
Days on Market for South Jamaica, NY
How long does it take to sell a home in South Jamaica, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 54 Days | 75 Days | +39.0% |
Summary: Homes in South Jamaica had an average of 75 days on market in Oct 2024, up by 39% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South Jamaica has remained consistent over time.
Summary: During October 2024, 14 homes were sold in South Jamaica; 21% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% 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.