Is Jackson Heights, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Jackson Heights is a buyer's market

Buyer's
Market

Difference Since May 2023

Since last year, Jackson Heights has remained a Buyer's Market.

Key Takeaway

Jackson Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Jackson Heights, NY

How much do homes in Jackson Heights, NY cost?

Median Sold Price

$462,500

$458/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,633(+2.8%)

Key Takeaway

Homes in Jackson Heights have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in Jackson Heights was $462,500 in May 2024, up 2.8% from last year, and the median price per square foot was $458.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $340K$310K
-8.8%
2 $419K$470K
+12.2%
3 $886.5K$860K
-3.0%
4 $1.1M$1.1M
0.0%
5+ $1.3M$1.3M
+0.8%

Summary: Jackson Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 12.2%, 3 bedroom homes decreased by 3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 0.8%.

Median Sold Price Compared To Nearby Neighborhoods

Jackson Heights
+2.8%
Northwestern Queens
+1.5%
Elmhurst
-19.2%

Housing Supply in Jackson Heights, NY

How many homes are available in Jackson Heights, NY?

Number of Homes For Sale

Apr 2024May 2024CHANGE
356402+12.9%

Summary: The Jackson Heights real estate market had 402 homes for sale in May 2024, a 12.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 147170
+15.6%
2 106114
+7.5%
3 4247
+11.9%
4 2325
+8.7%
5+ 3846
+21.1%

Summary: The Jackson Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 21.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
28280.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Jackson Heights, you may be able to get a good deal. 60.7% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in Jackson Heights in May 2024, the same as the previous month. Of the 28 sold homes, 61% were sold under asking, 25% were sold at asking, and 14% were sold over asking.

Days on Market for Jackson Heights, NY

How long does it take to sell a home in Jackson Heights, NY?

Average Sale Time

May 2023May 2024CHANGE
151 Days113 Days-24.8%

Summary: Homes in Jackson Heights had an average of 113 days on market in May 2024, down by 24.8% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Jackson Heights are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During May 2024, 28 homes were sold in Jackson Heights; 29% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Jackson Heights, NY

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