Is Far Rockaway, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Far Rockaway has remained a Buyer's Market.
Key Takeaway
Far Rockaway is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Far Rockaway, NY
How much do homes in Far Rockaway, NY cost?
Median Sold Price
$572,000
$399/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Far Rockaway have sold for 14.3% more than they did a month ago.
Summary: The median home sold price in Far Rockaway was $572,000 in April 2024, up 14.3% from last month, and the median price per square foot was $399.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102.5K | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $599K | N/A |
| 4 Bedrooms | $1.3M | $452.5K | -66.2% |
| 5+ Bedrooms | $866.2K | $1.3M | +59.9% |
Summary: Far Rockaway housing prices by bedroom type for April 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 did not change, 4 bedroom homes decreased by 66.2%, and 5+ bedroom homes increased by 59.9%.
Housing Supply in Far Rockaway, NY
How many homes are available in Far Rockaway, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 55 | 56 | +1.8% |
Summary: The Far Rockaway real estate market had 56 homes for sale in April 2024, a 1.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 24 | 26 | +8.3% |
Summary: The Far Rockaway housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Far Rockaway, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Far Rockaway in April 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Far Rockaway, NY
How long does it take to sell a home in Far Rockaway, NY?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 91 Days | 42 Days | -53.4% |
Summary: Homes in Far Rockaway had an average of 42 days on market in Apr 2024, down by 53.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Far Rockaway has remained consistent over time.
Summary: During April 2024, 4 homes were sold in Far Rockaway; 25% of homes were sold within 30 days, 75% 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.