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 February 2023

At the same time last year, Hempstead was a Neutral Market.

Key Takeaway

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

Housing Prices in Hempstead, NY

How much do homes in Hempstead, NY cost?

Median Sold Price

$545,000

$342/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$27,500(+5.3%)

Key Takeaway

Homes in Hempstead have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in Hempstead was $545,000 in February 2024, up 5.3% from last year, and the median price per square foot was $342.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $192.5K$198.3K
+3.1%
2 $350K$345.8K
-1.2%
3 $500K$529K
+5.8%
4 $533.5K$570K
+6.8%
5+ $579.2K$587.5K
+1.4%

Summary: Hempstead housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 1.4%.

Housing Supply in Hempstead, NY

How many homes are available in Hempstead, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
121133+9.9%

Summary: The Hempstead real estate market had 133 homes for sale in February 2024, a 9.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 35
+66.7%
2 78
+14.3%
3 3844
+15.8%
4 4449
+11.4%
5+ 2927
-6.9%

Summary: The Hempstead housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 6.9%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
138-38.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 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. 50% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in Hempstead in February 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for Hempstead, NY

How long does it take to sell a home in Hempstead, NY?

Average Sale Time

Feb 2023Feb 2024CHANGE
70 Days78 Days+12.0%

Summary: Homes in Hempstead had an average of 78 days on market in Feb 2024, up by 12% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 8 homes were sold in Hempstead; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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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