Is Great Neck Plaza, 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, Great Neck Plaza was a Buyer's Market.
Key Takeaway
Great Neck Plaza 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 Great Neck Plaza, NY
How much do homes in Great Neck Plaza, NY cost?
Median Sold Price
$448,000
$477/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Great Neck Plaza have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Great Neck Plaza was $448,000 in May 2024, up 4.2% from last year, and the median price per square foot was $477.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.5K | $300K | -4.0% |
| 2 Bedrooms | $560K | $548K | -2.1% |
| 3 Bedrooms | $789K | $960K | +21.7% |
| 4 Bedrooms | $1.4M | $1.8M | +29.5% |
| 5+ Bedrooms | $1.7M | - | N/A |
Summary: Great Neck Plaza housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 29.5%, and 5+ bedroom homes did not change.
Housing Supply in Great Neck Plaza, NY
How many homes are available in Great Neck Plaza, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 78 | 91 | +16.7% |
Summary: The Great Neck Plaza real estate market had 91 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 49 | 57 | +16.3% |
| 2 Bedrooms | 24 | 25 | +4.2% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Great Neck Plaza housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 14 | +250.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Great Neck Plaza, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Great Neck Plaza in May 2024, up by 250.0% month-over-month. Of the 14 sold homes, 71% were sold under asking, 21% were sold at asking, and 7% were sold over asking.
Days on Market for Great Neck Plaza, NY
How long does it take to sell a home in Great Neck Plaza, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 189 Days | 100 Days | -47.2% |
Summary: Homes in Great Neck Plaza had an average of 100 days on market in May 2024, down by 47.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Great Neck Plaza are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Great Neck Plaza; 36% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 36% 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.