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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Utopia is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Utopia was a Buyer's Market.

Key Takeaway

Utopia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Utopia, NY

How much do homes in Utopia, NY cost?

Median Sold Price

$1,060,000

$689/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$156,500(-12.9%)

Key Takeaway

Homes in Utopia have sold for 12.9% less than they did a month ago.

Summary: The median home sold price in Utopia was $1,060,000 in October 2024, down 12.9% from last month, and the median price per square foot was $689.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$705K
N/A
3 $1.1M$903.4K
-23.1%
4 $1.2M$1.1M
-12.6%
5+ -$1.2M
N/A

Summary: Utopia housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 12.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Jamaica Estates
+51.4%
Utopia
-12.9%

Housing Supply in Utopia, NY

How many homes are available in Utopia, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2625-3.8%

Summary: The Utopia real estate market had 25 homes for sale in October 2024, a 3.8% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1514
-6.7%
4 77
0.0%
5+ 22
0.0%

Summary: The Utopia 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 6.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
27+250.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Utopia, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Utopia in October 2024, up by 250.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.

Days on Market for Utopia, NY

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

Average Sale Time

Sep 2024Oct 2024CHANGE
27 Days51 Days+88.1%

Summary: Homes in Utopia had an average of 51 days on market in Oct 2024, up by 88.1% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 7 homes were sold in Utopia; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% 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

Newest Listings in Utopia, NY

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