Is Hempstead, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Hempstead was a Neutral Market.
Key Takeaway
Hempstead is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Hempstead, NY
How much do homes in Hempstead, NY cost?
Median Sold Price
$550,000
$347/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Hempstead have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Hempstead was $550,000 in April 2024, up 7.8% from last year, and the median price per square foot was $347.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $192K | -1.5% |
| 2 Bedrooms | $350K | $400K | +14.3% |
| 3 Bedrooms | $496K | $538K | +8.5% |
| 4 Bedrooms | $525K | $580K | +10.5% |
| 5+ Bedrooms | $577.5K | $607K | +5.1% |
Summary: Hempstead housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Cities
| Garden City | $970K | $1.0M | +8.2% |
| Hempstead | $510K | $550K | +7.8% |
Housing Supply in Hempstead, NY
How many homes are available in Hempstead, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 146 | 154 | +5.5% |
Summary: The Hempstead real estate market had 154 homes for sale in April 2024, a 5.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 50 | 48 | -4.0% |
| 4 Bedrooms | 54 | 65 | +20.4% |
| 5+ Bedrooms | 27 | 28 | +3.7% |
Summary: The Hempstead housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 18 | -25.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hempstead, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Hempstead in April 2024, down by 25.0% month-over-month. Of the 18 sold homes, 39% were sold under asking, 28% were sold at asking, and 33% were sold over asking.
Days on Market for Hempstead, NY
How long does it take to sell a home in Hempstead, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 59 Days | 57 Days | -3.1% |
Summary: Homes in Hempstead had an average of 57 days on market in Apr 2024, down by 3.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Hempstead has remained consistent over time.
Summary: During April 2024, 18 homes were sold in Hempstead; 39% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 17% 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.