Is Chestnut Ridge, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chestnut Ridge has remained a Neutral Market.
Key Takeaway
Chestnut Ridge 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 Chestnut Ridge, NY
How much do homes in Chestnut Ridge, NY cost?
Median Sold Price
$792,500
$368/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chestnut Ridge have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Chestnut Ridge was $792,500 in May 2024, up 7.2% from last year, and the median price per square foot was $368.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $227.5K | N/A |
| 2 Bedrooms | $563.5K | $607.5K | +7.8% |
| 3 Bedrooms | $670K | $651.6K | -2.7% |
| 4 Bedrooms | $739.9K | $800K | +8.1% |
| 5+ Bedrooms | $960K | $999.9K | +4.2% |
Summary: Chestnut Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.8%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Airmont | $740K | $818K | +10.5% |
| Monsey | $820K | $892K | +8.8% |
| Chestnut Ridge | $739K | $792.5K | +7.2% |
| Nanuet | $527.6K | $548K | +3.9% |
| Spring Valley | $680K | $700K | +2.9% |
Housing Supply in Chestnut Ridge, NY
How many homes are available in Chestnut Ridge, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 25 | +38.9% |
Summary: The Chestnut Ridge real estate market had 25 homes for sale in May 2024, a 38.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Chestnut Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chestnut Ridge, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Chestnut Ridge in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Chestnut Ridge, NY
How long does it take to sell a home in Chestnut Ridge, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 11 Days | -63.7% |
Summary: Homes in Chestnut Ridge had an average of 11 days on market in May 2024, down by 63.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chestnut Ridge are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Chestnut Ridge; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.