Great Neck, NY 11021 Real Estate Market Report

ZIP Code: 11021
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Great Neck, NY remains robust as evidenced by a median sold price of $1,589,000. This reflects a strong demand for properties, although the market has seen some localized price adjustments. The neighborhood has increased 15% since 2023, indicating a positive trend in property values. The median listing price stands at $2,128,794, suggesting that seller expectations may be outpacing current market realities, which could create pricing friction for potential buyers.

Market activity is characterized by elevated inventory levels, with homes taking a median of 359 days on market. This extended duration may indicate a slower sales velocity despite the overall hot market temperature. The rental market is also thriving, with a median market rent of $3,260, reflecting sustained demand and upward pressure on rental prices. Overall, while the market remains competitive, the dynamics suggest a need for careful navigation by both buyers and sellers to align expectations with market conditions.

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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.

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Market Metrics

Note: 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.

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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.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The median sold price of $1,589,000 indicates strong demand, despite some localized price adjustments.

2. Elevated inventory levels suggest excess supply relative to sales activity, which may impact pricing strategies for sellers.

3. With a median of 359 days on market, properties are experiencing slower sales velocity, indicating potential pricing friction.

4. The median listing price of $2,128,794 shows a significant gap compared to sold prices, suggesting that sellers may need to adjust expectations.

5. The median market rent of $3,260 reflects a strong rental demand, contributing to overall market stability.

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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.