Is Garden City, 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, Garden City was a Seller's Market.
Key Takeaway
Garden City 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 Garden City, NY
How much do homes in Garden City, NY cost?
Median Sold Price
$1,050,000
$557/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Garden City have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Garden City was $1,050,000 in May 2024, up 8.2% from last year, and the median price per square foot was $557.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $328K | $400K | +22.0% |
| 2 Bedrooms | $640K | $799K | +24.8% |
| 3 Bedrooms | $910K | $1.0M | +15.5% |
| 4 Bedrooms | $1.2M | $1.3M | +5.9% |
| 5+ Bedrooms | $1.4M | $1.7M | +22.1% |
Summary: Garden City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 24.8%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 22.1%.
Median Sold Price Compared To Nearby Cities
| Hempstead | $501K | $558.5K | +11.5% |
| Garden City | $970K | $1.0M | +8.2% |
| New Hyde Park | $780K | $835K | +7.1% |
| Stewart Manor | $742.5K | $774K | +4.2% |
| Mineola | $650K | $655K | +0.8% |
Housing Supply in Garden City, NY
How many homes are available in Garden City, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 123 | 132 | +7.3% |
Summary: The Garden City real estate market had 132 homes for sale in May 2024, a 7.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 17 | +6.3% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 37 | 39 | +5.4% |
| 4 Bedrooms | 31 | 32 | +3.2% |
| 5+ Bedrooms | 26 | 31 | +19.2% |
Summary: The Garden City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 19.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 21 | +16.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garden City, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Garden City in May 2024, up by 16.7% month-over-month. Of the 21 sold homes, 48% were sold under asking, 0% were sold at asking, and 52% were sold over asking.
Days on Market for Garden City, NY
How long does it take to sell a home in Garden City, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 55 Days | +33.7% |
Summary: Homes in Garden City had an average of 55 days on market in May 2024, up by 33.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Garden City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Garden City; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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.