Is Jericho, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Jericho has remained a Buyer's Market.
Key Takeaway
Jericho is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Jericho, NY
How much do homes in Jericho, NY cost?
Median Sold Price
$1,100,000
$497/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Jericho have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Jericho was $1,100,000 in March 2024, up 8.9% from last year, and the median price per square foot was $497.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $985K | $560K | -43.1% |
| 3 Bedrooms | $894K | $987.5K | +10.5% |
| 4 Bedrooms | $1.0M | $1.2M | +17.0% |
| 5+ Bedrooms | $1.4M | $1.3M | -4.4% |
Summary: Jericho housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 43.1%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 17%, and 5+ bedroom homes decreased by 4.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Jericho | $1.0M | $1.1M | +8.9% |
| Town of Oyster Bay | $722.3K | $764.9K | +5.9% |
| Hicksville | $640K | $669.5K | +4.6% |
| New Cassel | $549.5K | $572.5K | +4.2% |
| Syosset | $921.5K | $958K | +4.0% |
Housing Supply in Jericho, NY
How many homes are available in Jericho, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 57 | 61 | +7.0% |
Summary: The Jericho real estate market had 61 homes for sale in March 2024, a 7.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 17 | 20 | +17.6% |
| 5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The Jericho housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jericho, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Jericho in March 2024, down by 44.4% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Jericho, NY
How long does it take to sell a home in Jericho, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 102 Days | 52 Days | -49.3% |
Summary: Homes in Jericho had an average of 52 days on market in Mar 2024, down by 49.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Jericho are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Jericho; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.