Is Ramapo, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Ramapo was a Seller's Market.
Key Takeaway
Ramapo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ramapo, NY
How much do homes in Ramapo, NY cost?
Median Sold Price
$692,133
$334/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Ramapo have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Ramapo was $692,133 in March 2024, up 4.9% from last year, and the median price per square foot was $334.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $139K | +20.9% |
| 2 Bedrooms | $320K | $359.5K | +12.3% |
| 3 Bedrooms | $500K | $600K | +20.0% |
| 4 Bedrooms | $725.6K | $782.5K | +7.8% |
| 5+ Bedrooms | $920K | $1.1M | +20.7% |
Summary: Ramapo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 20.7%.
Median Sold Price Compared To Nearby Cities
| Airmont | $735K | $810K | +10.2% |
| Ramapo | $659.6K | $692.1K | +4.9% |
| Montebello | $850K | $865K | +1.8% |
Housing Supply in Ramapo, NY
How many homes are available in Ramapo, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 358 | 377 | +5.3% |
Summary: The Ramapo real estate market had 377 homes for sale in March 2024, a 5.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 37 | 33 | -10.8% |
| 2 Bedrooms | 28 | 28 | 0.0% |
| 3 Bedrooms | 64 | 65 | +1.6% |
| 4 Bedrooms | 101 | 109 | +7.9% |
| 5+ Bedrooms | 128 | 142 | +10.9% |
Summary: The Ramapo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.8%, 2 bedroom homes remained the same, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 10.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 49 | 52 | +6.1% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ramapo, you may be able to get a good deal. 44.2% of homes here sold below asking price last month.
Summary: A total of 52 homes were sold or pending in Ramapo in March 2024, up by 6.1% month-over-month. Of the 52 sold homes, 44% were sold under asking, 13% were sold at asking, and 42% were sold over asking.
Days on Market for Ramapo, NY
How long does it take to sell a home in Ramapo, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 51 Days | -11.8% |
Summary: Homes in Ramapo had an average of 51 days on market in Mar 2024, down by 11.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ramapo are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 52 homes were sold in Ramapo; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 19% 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.