Is Kew Gardens, 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, Kew Gardens has remained a Buyer's Market.
Key Takeaway
Kew Gardens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Kew Gardens, NY
How much do homes in Kew Gardens, NY cost?
Median Sold Price
$313,500
$335/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kew Gardens have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Kew Gardens was $313,500 in May 2024, down 4.4% from last year, and the median price per square foot was $335.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239K | $237K | -0.8% |
| 2 Bedrooms | $372.5K | $361K | -3.1% |
| 3 Bedrooms | $690K | $810K | +17.4% |
| 4 Bedrooms | $1.1M | $1.3M | +16.7% |
| 5+ Bedrooms | $1.5M | $1.4M | -3.0% |
Summary: Kew Gardens housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 3%.
Median Sold Price Compared To Nearby Neighborhoods
| Kew Gardens Hills | $375K | $425K | +13.3% |
| Briarwood | $310K | $321.8K | +3.8% |
| Forest Hills | $474.2K | $484.2K | +2.1% |
| Kew Gardens | $328K | $313.5K | -4.4% |
| Richmond Hill | $770K | $705K | -8.4% |
Housing Supply in Kew Gardens, NY
How many homes are available in Kew Gardens, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 108 | 124 | +14.8% |
Summary: The Kew Gardens real estate market had 124 homes for sale in May 2024, a 14.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 52 | 60 | +15.4% |
| 2 Bedrooms | 39 | 43 | +10.3% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Kew Gardens housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 10.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Asking Price vs. Sold Price
8 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 Kew Gardens, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Kew Gardens in May 2024, down by 10.0% month-over-month. Of the 9 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% were sold over asking.
Days on Market for Kew Gardens, NY
How long does it take to sell a home in Kew Gardens, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 140 Days | 196 Days | +40.2% |
Summary: Homes in Kew Gardens had an average of 196 days on market in May 2024, up by 40.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Kew Gardens are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 9 homes were sold in Kew Gardens; 33% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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