Is 11040, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 11040 was a Seller's Market.
Key Takeaway
11040 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 11040, NY
How much do homes in 11040, NY cost?
Median Sold Price
$800,000
$524/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 11040 have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in 11040 was $800,000 in March 2024, up 3.9% from last year, and the median price per square foot was $524.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $248K | $259K | +4.4% |
| 2 Bedrooms | $560K | $395K | -29.5% |
| 3 Bedrooms | $750K | $749K | -0.1% |
| 4 Bedrooms | $775K | $800K | +3.2% |
| 5+ Bedrooms | $910K | $990K | +8.8% |
Summary: 11040 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes decreased by 29.5%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 8.8%.
Housing Supply in 11040, NY
How many homes are available in 11040, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 98 | 99 | +1.0% |
Summary: The 11040 real estate market had 99 homes for sale in March 2024, a 1.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 32 | 37 | +15.6% |
| 4 Bedrooms | 41 | 37 | -9.8% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The 11040 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 15.6%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 11040, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 11040 in March 2024, down by 11.8% month-over-month. Of the 15 sold homes, 53% were sold under asking, 0% were sold at asking, and 47% were sold over asking.
Days on Market for 11040, NY
How long does it take to sell a home in 11040, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 70 Days | 71 Days | +1.0% |
Summary: Homes in 11040 had an average of 71 days on market in Mar 2024, up by 1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 11040 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in 11040; 40% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 27% 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.