Is West Hempstead, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Hempstead is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

West Hempstead 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 West Hempstead, NY

How much do homes in West Hempstead, NY cost?

Median Sold Price

$698,500

$411/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$60,500(+9.5%)

Key Takeaway

Homes in West Hempstead have sold for 9.5% more than they did a year ago.

Summary: The median home sold price in West Hempstead was $698,500 in November 2024, up 9.5% from last year, and the median price per square foot was $411.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $220K$217K
-1.4%
2 $410K$491K
+19.8%
3 $630K$675K
+7.1%
4 $632.5K$685K
+8.3%
5+ $753.5K$770.2K
+2.2%

Summary: West Hempstead housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes increased by 19.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Neighborhoods

Lakeview
+15.4%
Franklin Square
+9.9%
West Hempstead
+9.5%

Housing Supply in West Hempstead, NY

How many homes are available in West Hempstead, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6966-4.3%

Summary: The West Hempstead real estate market had 66 homes for sale in November 2024, a 4.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 43
-25.0%
3 2322
-4.3%
4 3430
-11.8%
5+ 710
+42.9%

Summary: The West Hempstead housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
911+22.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Hempstead, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in West Hempstead in November 2024, up by 22.2% month-over-month. Of the 11 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% were sold over asking.

Days on Market for West Hempstead, NY

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

Average Sale Time

Nov 2023Nov 2024CHANGE
39 Days60 Days+53.5%

Summary: Homes in West Hempstead had an average of 60 days on market in Nov 2024, up by 53.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 11 homes were sold in West Hempstead; 45% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 36% 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 22 Days Ago

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