Is Garden City, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garden City is a buyer's market

Buyer's
Market

Difference Since July 2021

At the same time last year, Garden City was a Seller's Market.

Key Takeaway

Garden City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Garden City, NY cost?

Median Sold Price

$999,000

$508/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$49,000(+5.2%)

Key Takeaway

Homes in Garden City have sold for 5.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $396K$385K
-2.8%
2 $752.5K$742.5K
-1.3%
3 $915K$907K
-0.9%
4 $1.0M$1.2M
+16.5%
5+ $1.3M$1.6M
+24.1%

Median Sold Price Compared To Nearby Cities

Hempstead
+16.8%
New Hyde Park
+13.7%
Mineola
+10.6%
Garden City
+5.2%

How many homes are available in Garden City, NY?

Number of Homes For Sale

Jun 2022Jul 2022%
176172-2.3%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 1721
+23.5%
2 3232
0.0%
3 4940
-18.4%
4 4447
+6.8%
5+ 3432
-5.9%

Number of Homes Sold

Jun 2022Jul 2022%
3224-25.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Garden City, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
69 Days71 Days+2.9%

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Garden City, NY

Homes for sale in Garden City, NY have reached 172. Between June 2022 and July 2022, Garden City, NY real estate market has seen decrease in the number of listings by 2.3%. In July 2022 median list price was $999,000 and the average listing age was 71 days. This housing market listing prices have changed between June 2022 and July 2022: the cost of 1 bedroom properties went down by 2.8%, prices of 2 bedrooms properties went down by 1.3%, 3 bedrooms properties became 0.9% more cheaper, prices of 4 bedrooms properties increased by 16.5%, the cost of 5 bedrooms properties went up by 24.1%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes increased by 23.5%, 2 bedrooms homes did not move, volume of 3 bedrooms homes went down by 18.4%, 4 bedrooms homes became 6.8% more available, volume of 5 bedrooms homes went down by 5.9%. In July 2022, from all listings sold in Garden City, NY there were more than 11 sold above asking price, over 12 sold below and more than 1 were sold right at the asked price.

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