Is Ramapo, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Ramapo was a Seller's Market.
Key Takeaway
Ramapo is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Ramapo, NY
How much do homes in Ramapo, NY cost?
Median Sold Price
$705,984
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ramapo have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Ramapo was $705,984 in May 2024, up 7.2% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $139.9K | +16.6% |
| 2 Bedrooms | $325K | $375K | +15.4% |
| 3 Bedrooms | $520K | $580K | +11.5% |
| 4 Bedrooms | $729K | $800K | +9.7% |
| 5+ Bedrooms | $965K | $1.0M | +13.5% |
Summary: Ramapo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 13.5%.
Median Sold Price Compared To Nearby Cities
| Airmont | $740K | $818K | +10.5% |
| Monsey | $820K | $892K | +8.8% |
| Ramapo | $658.5K | $705.9K | +7.2% |
| Montebello | $860K | $855K | -0.6% |
Housing Supply in Ramapo, NY
How many homes are available in Ramapo, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 354 | 397 | +12.1% |
Summary: The Ramapo real estate market had 397 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 33 | 30 | -9.1% |
| 2 Bedrooms | 28 | 32 | +14.3% |
| 3 Bedrooms | 66 | 67 | +1.5% |
| 4 Bedrooms | 101 | 124 | +22.8% |
| 5+ Bedrooms | 126 | 144 | +14.3% |
Summary: The Ramapo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 57 | -3.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ramapo, you could pay more than the asking price. 49.1% of homes here sold above asking price last month.
Summary: A total of 57 homes were sold or pending in Ramapo in May 2024, down by 3.4% month-over-month. Of the 57 sold homes, 42% were sold under asking, 9% were sold at asking, and 49% were sold over asking.
Days on Market for Ramapo, NY
How long does it take to sell a home in Ramapo, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 51 Days | +27.1% |
Summary: Homes in Ramapo had an average of 51 days on market in May 2024, up by 27.1% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ramapo are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 57 homes were sold in Ramapo; 51% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 16% 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.