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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Great Neck Plaza is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Great Neck Plaza was a Neutral Market.

Key Takeaway

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

Housing Prices in Great Neck Plaza, NY

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

Median Sold Price

$420,000

$473/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$10,000(-2.3%)

Key Takeaway

Homes in Great Neck Plaza have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in Great Neck Plaza was $420,000 in March 2024, down 2.3% from last year, and the median price per square foot was $473.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $313.5K$288K
-8.1%
2 $573.7K$529K
-7.8%
3 $928K$960K
+3.4%
4 $1.4M$1.9M
+32.8%
5+ $1.7M-
N/A

Summary: Great Neck Plaza housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.1%, 2 bedroom homes decreased by 7.8%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 32.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Thomaston
+22.5%
Great Neck Plaza
-2.3%

Housing Supply in Great Neck Plaza, NY

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

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
5867+15.5%

Summary: The Great Neck Plaza real estate market had 67 homes for sale in March 2024, a 15.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 3540
+14.3%
2 1822
+22.2%
3 44
0.0%
4 11
0.0%
5+ 00
0.0%

Summary: The Great Neck Plaza housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Great Neck Plaza, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Great Neck Plaza in March 2024, up by 80.0% month-over-month. Of the 9 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.

Days on Market for Great Neck Plaza, NY

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

Average Sale Time

Mar 2023Mar 2024CHANGE
94 Days114 Days+21.4%

Summary: Homes in Great Neck Plaza had an average of 114 days on market in Mar 2024, up by 21.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 9 homes were sold in Great Neck Plaza; 11% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 56% 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 25 Days Ago

Newest Listings in Great Neck Plaza, NY

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