Is Richmond County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Richmond County has remained a Buyer's Market.
Key Takeaway
Richmond County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Richmond County, NY
How much do homes in Richmond County, NY cost?
Median Sold Price
$659,642
$396/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Richmond County have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Richmond County was $659,642 in April 2024, up 1.5% from last year, and the median price per square foot was $396.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $330K | +4.8% |
| 2 Bedrooms | $465K | $465K | 0.0% |
| 3 Bedrooms | $640.2K | $650K | +1.5% |
| 4 Bedrooms | $800K | $810K | +1.3% |
| 5+ Bedrooms | $877.5K | $947.5K | +8.0% |
Summary: Richmond County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes did not change, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 8%.
Median Sold Price Compared To Nearby Counties
| Union County | $500.6K | $554.8K | +10.8% |
| Richmond County | $650K | $659.6K | +1.5% |
Housing Supply in Richmond County, NY
How many homes are available in Richmond County, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 401 | 433 | +8.0% |
Summary: The Richmond County real estate market had 433 homes for sale in April 2024, a 8.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 20 | 0.0% |
| 2 Bedrooms | 64 | 75 | +17.2% |
| 3 Bedrooms | 181 | 186 | +2.8% |
| 4 Bedrooms | 70 | 84 | +20.0% |
| 5+ Bedrooms | 66 | 68 | +3.0% |
Summary: The Richmond County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 51 | -1.9% |
Asking Price vs. Sold Price
40 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 Richmond County, you may be able to get a good deal. 78.4% of homes here sold below asking price last month.
Summary: A total of 51 homes were sold or pending in Richmond County in April 2024, down by 1.9% month-over-month. Of the 51 sold homes, 78% were sold under asking, 10% were sold at asking, and 12% were sold over asking.
Days on Market for Richmond County, NY
How long does it take to sell a home in Richmond County, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 63 Days | 83 Days | +32.9% |
Summary: Homes in Richmond County had an average of 83 days on market in Apr 2024, up by 32.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Richmond County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 51 homes were sold in Richmond County; 20% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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