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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Hempstead is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

New Hempstead is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New Hempstead, NY

How much do homes in New Hempstead, NY cost?

Median Sold Price

$882,500

$424/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$76,500(+9.5%)

Key Takeaway

Homes in New Hempstead have sold for 9.5% more than they did a year ago.

Summary: The median home sold price in New Hempstead was $882,500 in February 2024, up 9.5% from last year, and the median price per square foot was $424.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $615K$730K
+18.7%
4 $799.9K$908.5K
+13.6%
5+ $865K$980K
+13.3%

Summary: New Hempstead housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 13.3%.

Median Sold Price Compared To Nearby Cities

New Hempstead
+9.5%
Wesley Hills
+9.1%
Monsey
+8.9%
New City
+3.7%

Housing Supply in New Hempstead, NY

How many homes are available in New Hempstead, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1917-10.5%

Summary: The New Hempstead real estate market had 17 homes for sale in February 2024, a 10.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 55
0.0%
4 98
-11.1%
5+ 54
-20.0%

Summary: The New Hempstead housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Hempstead, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in New Hempstead in February 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for New Hempstead, NY

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

Average Sale Time

Feb 2023Feb 2024CHANGE
47 Days20 Days-57.5%

Summary: Homes in New Hempstead had an average of 20 days on market in Feb 2024, down by 57.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 4 homes were sold in New Hempstead; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in New Hempstead, NY

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