Is West Hempstead, 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, West Hempstead was a Seller's Market.
Key Takeaway
West Hempstead is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Hempstead, NY
How much do homes in West Hempstead, NY cost?
Median Sold Price
$660,000
$409/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Hempstead have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in West Hempstead was $660,000 in March 2024, up 1.5% from last year, and the median price per square foot was $409.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $202.5K | -5.8% |
| 2 Bedrooms | $468.5K | $467.5K | -0.2% |
| 3 Bedrooms | $618K | $662.5K | +7.2% |
| 4 Bedrooms | $670K | $647.5K | -3.4% |
| 5+ Bedrooms | $732.5K | $725K | -1.0% |
Summary: West Hempstead housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Neighborhoods
| Franklin Square | $650K | $718.3K | +10.5% |
| West Hempstead | $650K | $660K | +1.5% |
| Lakeview | $599.4K | $602.5K | 0.5% |
Housing Supply in West Hempstead, NY
How many homes are available in West Hempstead, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 53 | 52 | -1.9% |
Summary: The West Hempstead real estate market had 52 homes for sale in March 2024, a 1.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 13 | 10 | -23.1% |
Summary: The West Hempstead housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 23.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 6 | -50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Hempstead, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in West Hempstead in March 2024, down by 50.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for West Hempstead, NY
How long does it take to sell a home in West Hempstead, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 59 Days | 86 Days | +43.7% |
Summary: Homes in West Hempstead had an average of 86 days on market in Mar 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Hempstead are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in West Hempstead; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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.