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 August 2021

At the same time last year, Great Neck Plaza was a Seller's 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.

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

Median Sold Price

$440,000

$426/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$26,250(+6.3%)

Key Takeaway

Homes in Great Neck Plaza have sold for 6.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $290K$315K
+8.6%
2 $532.5K$565.5K
+6.2%
3 $740K$749K
+1.2%
4 $1.1M$1.3M
+13.9%
5+ $1.8M$460K
-74.7%

Median Sold Price Compared To Nearby Cities

Great Neck Estates
+13.4%
Great Neck Plaza
+6.3%
Thomaston
-8.5%
Kensington
-21.4%

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

Number of Homes For Sale

Jul 2022Aug 2022%
129130+0.8%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 6770
+4.5%
2 4645
-2.2%
3 119
-18.2%
4 33
0.0%
5+ 23
+50.0%

Number of Homes Sold

Jul 2022Aug 2022%
1216+33.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 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. 68.8% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
110 Days91 Days-17.8%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

9 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.

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

About Great Neck Plaza, NY

There are 130 homes are for sale in Great Neck Plaza, NY real estate market. Between July 2022 and August 2022, Great Neck Plaza, NY real estate market has seen increase in the number of listings by 0.8%. Listings spent 91 days on the market in August 2022, and had a median list price of $440,000 during the same period. Real estate listing prices changed between July 2022 and August 2022: the cost of 1 bedroom properties went up by 8.6%, prices of 2 bedrooms properties went up by 6.2%, prices of 3 bedrooms properties increased by 1.2%, the cost of 4 bedrooms properties went up by 13.9%, prices of 5 bedrooms properties decreased by 74.7%. Volume of homes for sale changed: 1 bedroom homes became 4.5% more available, volume of 2 bedrooms homes went down by 2.2%, 3 bedrooms homes inventory decreased by 18.2%, volume of 4 bedrooms homes stayed the same, 5 bedrooms homes became 50% more available. In August 2022, from all listings sold in Great Neck Plaza, NY there were more than 2 sold above asking price, over 11 sold below and more than 3 were sold right at the asked price.

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