Is The Rockaways, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, The Rockaways has remained a Buyer's Market.
Key Takeaway
The Rockaways is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in The Rockaways, NY
How much do homes in The Rockaways, NY cost?
Median Sold Price
$675,000
$416/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in The Rockaways have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in The Rockaways was $675,000 in March 2024, down 0.7% from last year, and the median price per square foot was $416.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $289K | +5.1% |
| 2 Bedrooms | $591.5K | $525K | -11.2% |
| 3 Bedrooms | $640K | $645K | +0.8% |
| 4 Bedrooms | $764K | $785K | +2.7% |
| 5+ Bedrooms | $785K | $800K | +1.9% |
Summary: The Rockaways housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 1.9%.
Housing Supply in The Rockaways, NY
How many homes are available in The Rockaways, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 266 | 297 | +11.7% |
Summary: The The Rockaways real estate market had 297 homes for sale in March 2024, a 11.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 21 | +10.5% |
| 2 Bedrooms | 50 | 49 | -2.0% |
| 3 Bedrooms | 54 | 65 | +20.4% |
| 4 Bedrooms | 41 | 46 | +12.2% |
| 5+ Bedrooms | 102 | 116 | +13.7% |
Summary: The The Rockaways housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.5%, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 13.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in The Rockaways, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in The Rockaways in March 2024, the same as the previous month. Of the 15 sold homes, 80% were sold under asking, 13% were sold at asking, and 7% were sold over asking.
Days on Market for The Rockaways, NY
How long does it take to sell a home in The Rockaways, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 72 Days | 111 Days | +53.3% |
Summary: Homes in The Rockaways had an average of 111 days on market in Mar 2024, up by 53.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in The Rockaways are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 15 homes were sold in The Rockaways; 13% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. 
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