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.
Key Takeaway
Hempstead is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
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
Key Takeaway
Homes in Hempstead have sold for 11.5% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Hempstead, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.
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
Key Takeaway
Many homes in Hempstead are selling fast, if you're buying plan to act quickly.
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.
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.