Far Rockaway, NY Home Values & Market Trends
Real estate market trends reflect that there have been 496 transactions over the past year in Far Rockaway. The median value for residential home transactions that occurred over the previous year is $800,437.25. The number of current listings in Far Rockaway is 57, and the percentage of properties for sale in the city is 57.00%. Far Rockaway, NY currently has 293 properties in foreclosure, 3 bank owned properties, 14 properties headed for auction, and 57 properties for sale.
Far Rockaway, NY Real Estate Market Overview
Housing Market Summary for Far Rockaway, NY
Apr 2023 | March 2024 | Change | |
---|---|---|---|
Median Listing Price | $700K | $800.7K | 14.39% |
Median Sold Price | $755.1K | $800.7K | 6.04% |
Homes For Sale | 61 | 59 | -3.28% |
Homes Sold | 237 | 269 | 13.50% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Far Rockaway, NY
Browse Homes in Far Rockaway, NY
Far Rockaway home values range from $77,097 to $55,673,244. The median estimated value of a home in Far Rockaway is $800,437.25. The median list price of a home is 699,000, and the total count of properties in the city is 11,295.
- Pre-ForeclosurePre-foreclosure homes account for 2.44% of all residential properties in Far Rockaway, NY with 11691 containing 170 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 2 zips within Far Rockaway, NY; of those zips, the estimated home value for pre-foreclosure homes ranges from $1,729,422 in 11693 to the lowest home value of $279,093 in 11691.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Far Rockaway, NY ranges from the highest value of $665,300 in 11691 to the lowest value of $566,508 in 11691. Bank owned homes and properties account for 0.03% of properties in Far Rockaway, NY. There are 2 zips within Far Rockaway, NY; 11691 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions11691 has 11 auction properties, the highest number of properties going to auction in a single zip in the state of Far Rockaway, NY. Auction homes and other auction properties account for 0.12% of all properties in Far Rockaway, NY. There are 2 zips within Far Rockaway, NY; of those zips, the median estimated home value for homes going to auction ranges from $813,706 in 11691 to the lowest value of $542,800 in 11691.
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Guide for Far Rockaway, NY
The real estate market in Syracuse, New York is experiencing a surge in property values and sale prices, with homes typically selling above their listed prices.
The Albany real estate market from April 2023 to March 2024 showed a clear positive trend, with rising property values and sale prices offset by fluctuating property counts.
Amid rapid fluctuations in the Rochester real estate sector, a steady increase in the average sale price per square foot has been observed from March 2023 to February 2024. Surrounding cities like East Rochester, Webster, Penfield, Spencerport, and West Henrietta have experienced unique trends, providing a diverse regional real estate climate.
New York City’s real estate market from August 2023 to January 2024 witnessed roughly an 8% increase in average property values, along with fluctuations in per square foot values and sold prices.