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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Maspeth is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Maspeth was a Seller's Market.

Key Takeaway

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

Housing Prices in Maspeth, NY

How much do homes in Maspeth, NY cost?

Median Sold Price

$868,500

$504/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$29,500(-3.3%)

Key Takeaway

Homes in Maspeth have sold for 3.3% less than they did a year ago.

Summary: The median home sold price in Maspeth was $868,500 in February 2024, down 3.3% from last year, and the median price per square foot was $504.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $290K$311K
+7.2%
2 $670K$612.5K
-8.6%
3 $882.5K$849K
-3.8%
4 $984K$996K
+1.2%
5+ $1.2M$1.2M
-0.2%

Summary: Maspeth housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 0.2%.

Median Sold Price Compared To Nearby Neighborhoods

Sunnyside
+19.2%
Woodside
+0.6%
Maspeth
-3.3%
Northwestern Queens
-4.0%

Housing Supply in Maspeth, NY

How many homes are available in Maspeth, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
129142+10.1%

Summary: The Maspeth real estate market had 142 homes for sale in February 2024, a 10.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 2225
+13.6%
2 2830
+7.1%
3 3032
+6.7%
4 1112
+9.1%
5+ 3843
+13.2%

Summary: The Maspeth housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 13.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
510+100.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Maspeth, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Maspeth in February 2024, up by 100.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.

Days on Market for Maspeth, NY

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

Average Sale Time

Feb 2023Feb 2024CHANGE
81 Days167 Days+105.0%

Summary: Homes in Maspeth had an average of 167 days on market in Feb 2024, up by 105% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Maspeth are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 10 homes were sold in Maspeth; 20% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 50% 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 28 Days Ago

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