Is Hempstead, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hempstead is a buyer's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Hempstead, NY cost?

Median Sold Price

$516,000

$325/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$79,000(+18.1%)

Key Takeaway

Homes in Hempstead have sold for 18.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $180K$185K
+2.8%
2 $275K$343.9K
+25.1%
3 $437K$500K
+14.4%
4 $469K$547K
+16.6%
5+ $498.5K$565K
+13.3%

Median Sold Price Compared To Nearby Cities

Hempstead
+18.1%
Garden City
+1.7%

How many homes are available in Hempstead, NY?

Number of Homes For Sale

Oct 2022Nov 2022%
196194-1.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 97
-22.2%
2 1415
+7.1%
3 4245
+7.1%
4 7473
-1.4%
5+ 5754
-5.3%

Number of Homes Sold

Oct 2022Nov 2022%
20200.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hempstead, you could pay more than the asking price. 55% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
87 Days65 Days-25.4%

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Hempstead has remained consistent over time.

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

About Hempstead, NY

Hempstead, NY has 194 homes for sale to choose from. Between October 2022 and November 2022, Hempstead, NY real estate market has seen decrease in the number of listings by 1%. Listings spent 65 days on the market in November 2022, and had a median list price of $516,000 during the same period. Real estate listing prices changed between October 2022 and November 2022: prices of 1 bedroom properties increased by 2.8%, prices of 2 bedrooms properties went up by 25.1%, prices of 3 bedrooms properties went up by 14.4%, prices of 4 bedrooms properties went up by 16.6%, the cost of 5 bedrooms properties went up by 13.3%. This housing market inventory have changed: 1 bedroom homes became 22.2% less available, volume of 2 bedrooms homes went up by 7.1%, 3 bedrooms homes became 7.1% more available, 4 bedrooms homes became 1.4% less available, the quantity of 5 bedrooms homes went down by 5.3%. In November 2022, from all listings sold in Hempstead, NY there were more than 11 sold above asking price, over 7 sold below and more than 2 were sold right at the asked price.

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