Is South Ozone Park, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, South Ozone Park was a Neutral Market.
Housing Prices in South Ozone Park, NY
How much do homes in South Ozone Park, NY cost?
Median Sold Price
$702,500
$535/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in South Ozone Park was $702,500 in February 2024, up 1.1% from last year, and the median price per square foot was $535.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $325K | - | N/A |
2 Bedrooms | $571K | $535K | -6.3% |
3 Bedrooms | $660K | $670K | +1.5% |
4 Bedrooms | $803.5K | $830K | +3.3% |
5+ Bedrooms | $990K | $995K | 0.5% |
Summary: South Ozone Park 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 decreased by 6.3%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Neighborhoods
South Ozone Park | $695K | $702.5K | +1.1% |
South Jamaica | $650K | $637.5K | -1.9% |
Southwestern Queens | $712.2K | $690K | -3.1% |
Ozone Park | $760K | $720K | -5.3% |
Housing Supply in South Ozone Park, NY
How many homes are available in South Ozone Park, NY?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
82 | 89 | +8.5% |
Summary: The South Ozone Park real estate market had 89 homes for sale in February 2024, a 8.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 7 | 7 | 0.0% |
3 Bedrooms | 40 | 47 | +17.5% |
4 Bedrooms | 19 | 17 | -10.5% |
5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The South Ozone Park housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 17.5%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
5 | 7 | +40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in South Ozone Park in February 2024, up by 40.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 43% were sold at asking, and 0% were sold over asking.
Days on Market for South Ozone Park, NY
How long does it take to sell a home in South Ozone Park, NY?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
126 Days | 55 Days | -56.2% |
Summary: Homes in South Ozone Park had an average of 55 days on market in Feb 2024, down by 56.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in South Ozone Park; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.