Is Elmhurst, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Elmhurst has remained a Buyer's Market.
Key Takeaway
Elmhurst is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elmhurst, NY
How much do homes in Elmhurst, NY cost?
Median Sold Price
$505,000
$454/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elmhurst have sold for 19.2% less than they did a year ago.
Summary: The median home sold price in Elmhurst was $505,000 in May 2024, down 19.2% from last year, and the median price per square foot was $454.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $309K | -1.9% |
| 2 Bedrooms | $525K | $502.5K | -4.3% |
| 3 Bedrooms | $900K | $950K | +5.6% |
| 4 Bedrooms | $995K | $1.2M | +21.3% |
| 5+ Bedrooms | $1.4M | $1.4M | +4.5% |
Summary: Elmhurst housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Rego Park | $388K | $410K | +5.7% |
| Jackson Heights | $449.8K | $462.5K | +2.8% |
| Northwestern Queens | $715.7K | $726.8K | +1.5% |
| Middle Village | $879.4K | $870K | -1.1% |
| Elmhurst | $625K | $505K | -19.2% |
Housing Supply in Elmhurst, NY
How many homes are available in Elmhurst, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 168 | 191 | +13.7% |
Summary: The Elmhurst real estate market had 191 homes for sale in May 2024, a 13.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 68 | 77 | +13.2% |
| 2 Bedrooms | 42 | 45 | +7.1% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 34 | 43 | +26.5% |
Summary: The Elmhurst housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.2%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 15.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 26.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elmhurst, you may be able to get a good deal. 90.9% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Elmhurst in May 2024, up by 22.2% month-over-month. Of the 11 sold homes, 91% were sold under asking, 0% were sold at asking, and 9% were sold over asking.
Days on Market for Elmhurst, NY
How long does it take to sell a home in Elmhurst, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 124 Days | 160 Days | +28.9% |
Summary: Homes in Elmhurst had an average of 160 days on market in May 2024, up by 28.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elmhurst has remained consistent over time.
Summary: During May 2024, 11 homes were sold in Elmhurst; 9% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 27% 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. 
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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