Is Jamaica, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Jamaica has remained a Buyer's Market.
Key Takeaway
Jamaica is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Jamaica, NY
How much do homes in Jamaica, NY cost?
Median Sold Price
$695,000
$583/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Jamaica have sold for 78.2% more than they did a month ago.
Summary: The median home sold price in Jamaica was $695,000 in March 2024, up 78.2% from last month, and the median price per square foot was $583.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | - | N/A |
| 2 Bedrooms | - | $625K | N/A |
| 3 Bedrooms | $737.5K | $589K | -20.1% |
| 4 Bedrooms | $750K | $611.5K | -18.5% |
| 5+ Bedrooms | $800K | $920K | +15.0% |
Summary: Jamaica housing prices by bedroom type for March 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 decreased by 20.1%, 4 bedroom homes decreased by 18.5%, and 5+ bedroom homes increased by 15%.
Housing Supply in Jamaica, NY
How many homes are available in Jamaica, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 139 | 146 | +5.0% |
Summary: The Jamaica real estate market had 146 homes for sale in March 2024, a 5.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 9 | -35.7% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 27 | 26 | -3.7% |
| 4 Bedrooms | 30 | 36 | +20.0% |
| 5+ Bedrooms | 48 | 55 | +14.6% |
Summary: The Jamaica housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 35.7%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 14.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jamaica, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Jamaica in March 2024, the same as the previous month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.
Days on Market for Jamaica, NY
How long does it take to sell a home in Jamaica, NY?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 107 Days | 124 Days | +16.6% |
Summary: Homes in Jamaica had an average of 124 days on market in Mar 2024, up by 16.6% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Jamaica are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 11 homes were sold in Jamaica; 0% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 55% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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