Is South Ozone Park, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Ozone Park is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, South Ozone Park was a Neutral Market.

Key Takeaway

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

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

+$7,500(+1.1%)

Key Takeaway

Homes in South Ozone Park have sold for 1.1% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $325K-
N/A
2 $571K$535K
-6.3%
3 $660K$670K
+1.5%
4 $803.5K$830K
+3.3%
5+ $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
+1.1%
South Jamaica
-1.9%
Southwestern Queens
-3.1%
Ozone Park
-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 2024Feb 2024CHANGE
8289+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

# BEDSJan 2024Feb 2024CHANGE
1 12
+100.0%
2 77
0.0%
3 4047
+17.5%
4 1917
-10.5%
5+ 1516
+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 2024Feb 2024CHANGE
57+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Ozone Park, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
126 Days55 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Ozone Park are selling fast, if you're buying plan to act quickly.

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.

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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