Is Great Neck, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Great Neck is a buyer's market

Buyer's
Market

Difference Since September 2021

Since last year, Great Neck has remained a Buyer's Market.

Key Takeaway

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

How much do homes in Great Neck, NY cost?

Median Sold Price

$990,000

$498/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$69,500(+7.6%)

Key Takeaway

Homes in Great Neck have sold for 7.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $239K$225K
-5.9%
2 $460K$465K
+1.1%
3 $857K$900K
+5.0%
4 $1.0M$1.2M
+20.5%
5+ $1.3M$1.4M
+7.3%

Median Sold Price Compared To Nearby Cities

Kings Point
+8.5%
Great Neck
+7.6%

How many homes are available in Great Neck, NY?

Number of Homes For Sale

Aug 2022Sep 2022%
57570.0%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 109
-10.0%
2 64
-33.3%
3 109
-10.0%
4 2224
+9.1%
5+ 911
+22.2%

Number of Homes Sold

Aug 2022Sep 2022%
107-30.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Great Neck, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
67 Days99 Days+47.0%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Great Neck are taking a long time to sell, it's a good idea to negotiate on homes here.

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

About Great Neck, NY

Number of homes for sale in Great Neck, NY real estate market have reached 57. The median list price of listings available in September 2022 was $990,000, while the average time on the real estate market was 99 days. Between August 2022 and September 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices decreased by 5.9%, the cost of 2 bedrooms properties went up by 1.1%, 3 bedrooms properties became 5% more expensive, prices of 4 bedrooms properties increased by 20.5%, the cost of 5 bedrooms properties went up by 7.3%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes went down by 10%, number of 2 bedrooms homes decreased by 33.3%, number of 3 bedrooms homes decreased by 10%, 4 bedrooms homes inventory increased by 9.1%, 5 bedrooms homes became 22.2% more available. In September 2022, from all listings sold in Great Neck, NY there were more than 3 sold above asking price, over 4 sold below and more than 0 were sold right at the asked price.

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