Is Garden City, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Garden City was a Seller's Market.
Housing Prices in Garden City, NY
How much do homes in Garden City, NY cost?
Median Sold Price
$1,050,000
$557/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Garden City was $1,050,000 in May 2024, up 8.2% from last year, and the median price per square foot was $557.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $328K | $400K | +22.0% |
2 Bedrooms | $640K | $799K | +24.8% |
3 Bedrooms | $910K | $1.0M | +15.5% |
4 Bedrooms | $1.2M | $1.3M | +5.9% |
5+ Bedrooms | $1.4M | $1.7M | +22.1% |
Summary: Garden City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 24.8%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 22.1%.
Median Sold Price Compared To Nearby Cities
Hempstead | $501K | $558.5K | +11.5% |
Garden City | $970K | $1.0M | +8.2% |
New Hyde Park | $780K | $835K | +7.1% |
Stewart Manor | $742.5K | $774K | +4.2% |
Mineola | $650K | $655K | +0.8% |
Housing Supply in Garden City, NY
How many homes are available in Garden City, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
123 | 132 | +7.3% |
Summary: The Garden City real estate market had 132 homes for sale in May 2024, a 7.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 17 | +6.3% |
2 Bedrooms | 13 | 13 | 0.0% |
3 Bedrooms | 37 | 39 | +5.4% |
4 Bedrooms | 31 | 32 | +3.2% |
5+ Bedrooms | 26 | 31 | +19.2% |
Summary: The Garden City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 19.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 21 | +16.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Garden City in May 2024, up by 16.7% month-over-month. Of the 21 sold homes, 48% were sold under asking, 0% were sold at asking, and 52% were sold over asking.
Days on Market for Garden City, NY
How long does it take to sell a home in Garden City, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 55 Days | +33.7% |
Summary: Homes in Garden City had an average of 55 days on market in May 2024, up by 33.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 21 homes were sold in Garden City; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.