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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Great Neck Estates is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Great Neck Estates was a Buyer's Market.

Key Takeaway

Great Neck Estates is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Great Neck Estates, NY

How much do homes in Great Neck Estates, NY cost?

Median Sold Price

$1,575,000

$571/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

-$275,000(-14.9%)

Key Takeaway

Homes in Great Neck Estates have sold for 14.9% less than they did a month ago.

Summary: The median home sold price in Great Neck Estates was $1,575,000 in February 2024, down 14.9% from last month, and the median price per square foot was $571.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 -$880K
N/A
4 $1.8M$1.5M
-14.9%
5+ -$2.4M
N/A

Summary: Great Neck Estates housing prices by bedroom type for February 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 14.9%, and 5+ bedroom homes did not change.

Housing Supply in Great Neck Estates, NY

How many homes are available in Great Neck Estates, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1416+14.3%

Summary: The Great Neck Estates real estate market had 16 homes for sale in February 2024, a 14.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 33
0.0%
3 22
0.0%
4 33
0.0%
5+ 68
+33.3%

Summary: The Great Neck Estates housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Great Neck Estates, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Great Neck Estates in February 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Great Neck Estates, NY

How long does it take to sell a home in Great Neck Estates, NY?

Average Sale Time

Jan 2024Feb 2024CHANGE
60 Days21 Days-64.4%

Summary: Homes in Great Neck Estates had an average of 21 days on market in Feb 2024, down by 64.4% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Great Neck Estates are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 3 homes were sold in Great Neck Estates; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 27 Days Ago

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