Is Great Neck, 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, Great Neck was a Seller's Market.
Housing Prices in Great Neck, NY
How much do homes in Great Neck, NY cost?
Median Sold Price
$992,000
$535/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Great Neck was $992,000 in March 2024, up 1.6% from last year, and the median price per square foot was $535.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | $280K | 0.0% |
2 Bedrooms | $500K | $500K | 0.0% |
3 Bedrooms | $975K | $990K | +1.5% |
4 Bedrooms | $1.3M | $1.4M | +14.2% |
5+ Bedrooms | $1.8M | $2.1M | +22.1% |
Summary: Great Neck housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 22.1%.
Median Sold Price Compared To Nearby Cities
North Hempstead | $888.5K | $919.2K | +3.4% |
Great Neck | $976.6K | $992K | +1.6% |
Housing Supply in Great Neck, NY
How many homes are available in Great Neck, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
210 | 229 | +9.0% |
Summary: The Great Neck real estate market had 229 homes for sale in March 2024, a 9.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 52 | 55 | +5.8% |
2 Bedrooms | 40 | 44 | +10.0% |
3 Bedrooms | 31 | 34 | +9.7% |
4 Bedrooms | 32 | 37 | +15.6% |
5+ Bedrooms | 55 | 59 | +7.3% |
Summary: The Great Neck housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 7.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 28 | +12.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Great Neck in March 2024, up by 12.0% month-over-month. Of the 28 sold homes, 79% were sold under asking, 7% were sold at asking, and 14% were sold over asking.
Days on Market for Great Neck, NY
How long does it take to sell a home in Great Neck, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
86 Days | 77 Days | -10.0% |
Summary: Homes in Great Neck had an average of 77 days on market in Mar 2024, down by 10% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 28 homes were sold in Great Neck; 36% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.