Is Richmond County, 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, Richmond County has remained a Buyer's Market.
Key Takeaway
Richmond County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Richmond County, NY
How much do homes in Richmond County, NY cost?
Median Sold Price
$650,000
$394/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Richmond County have sold for 2.3% less than they did a month ago.
Summary: The median home sold price in Richmond County was $650,000 in March 2024, down 2.3% from last month, and the median price per square foot was $394.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $365K | N/A |
| 2 Bedrooms | $515K | $489K | -5.0% |
| 3 Bedrooms | $561.5K | $650K | +15.8% |
| 4 Bedrooms | $765K | $742.5K | -2.9% |
| 5+ Bedrooms | $1.2M | $820K | -35.7% |
Summary: Richmond County 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 decreased by 5%, 3 bedroom homes increased by 15.8%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 35.7%.
Housing Supply in Richmond County, NY
How many homes are available in Richmond County, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 389 | 410 | +5.4% |
Summary: The Richmond County real estate market had 410 homes for sale in March 2024, a 5.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 20 | +5.3% |
| 2 Bedrooms | 61 | 63 | +3.3% |
| 3 Bedrooms | 172 | 184 | +7.0% |
| 4 Bedrooms | 74 | 74 | 0.0% |
| 5+ Bedrooms | 63 | 69 | +9.5% |
Summary: The Richmond County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 53 | +10.4% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond County, you may be able to get a good deal. 67.9% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Richmond County in March 2024, up by 10.4% month-over-month. Of the 53 sold homes, 68% were sold under asking, 13% were sold at asking, and 19% were sold over asking.
Days on Market for Richmond County, NY
How long does it take to sell a home in Richmond County, NY?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 78 Days | 85 Days | +8.5% |
Summary: Homes in Richmond County had an average of 85 days on market in Mar 2024, up by 8.5% compared to last month.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Richmond County has remained consistent over time.
Summary: During March 2024, 53 homes were sold in Richmond County; 23% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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