Great Neck, NY 11021 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Market Trends & Context

Key Findings

1. The primary indicator of market value is the median sold price of 1,484,000, which signals the representative recent sale level for Great Neck (11021) and should be prioritized over asking prices when setting offers or valuations.
2. Despite a median listing price of 1,600,000, the market appears to realize lower transaction prices, suggesting seller expectations exceed recent sale outcomes; this gap may indicate pricing friction and advises cautious list-price-to-offer strategies.
3. The median days on market of 354 points to slower sales velocity even as the market is labeled hot; this combination suggests moderate liquidity where sellers can expect interest but may face longer marketing periods before achieving the median sold price.
4. Price and rent trends are both rising—price is up and rent is up—while interest rate pressure is moderate; prioritize underwriting that stresses financing sensitivity and focus on properties with clear demand drivers given rising rents (median market rent 4,150) and strong per-square-foot pricing (median price per square foot 657).

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.