Is Hempstead, 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, Hempstead has remained a Buyer's Market.
Housing Prices in Hempstead, NY
How much do homes in Hempstead, NY cost?
Median Sold Price
$558,500
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Hempstead was $558,500 in May 2024, up 11.5% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195K | $192K | -1.5% |
2 Bedrooms | $350K | $375K | +7.1% |
3 Bedrooms | $498K | $540K | +8.4% |
4 Bedrooms | $521.2K | $589K | +13.0% |
5+ Bedrooms | $585K | $607K | +3.8% |
Summary: Hempstead housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
Hempstead | $501K | $558.5K | +11.5% |
Garden City | $970K | $1.0M | +8.2% |
Housing Supply in Hempstead, NY
How many homes are available in Hempstead, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
148 | 150 | +1.4% |
Summary: The Hempstead real estate market had 150 homes for sale in May 2024, a 1.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 8 | 10 | +25.0% |
3 Bedrooms | 44 | 46 | +4.5% |
4 Bedrooms | 64 | 62 | -3.1% |
5+ Bedrooms | 27 | 28 | +3.7% |
Summary: The Hempstead housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 16 | -15.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Hempstead in May 2024, down by 15.8% month-over-month. Of the 16 sold homes, 25% were sold under asking, 19% were sold at asking, and 56% were sold over asking.
Days on Market for Hempstead, NY
How long does it take to sell a home in Hempstead, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
67 Days | 59 Days | -10.7% |
Summary: Homes in Hempstead had an average of 59 days on market in May 2024, down by 10.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in Hempstead; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.