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Market Flash: Garden City Real Estate Remains Stellar

House For Sale Sign Garden City Copy

Garden City real estate is still going strong here in autumn 2021. The median sales price of homes in Garden City was up year on year, as was the sale-to-list price and the total number of homes that sold, based on the real estate numbers that came in for last month. Welcome to this week’s Long Island HOME Market Flash as we head to Garden City, NY.

Garden City homes sold for a median price of $902,000 this past September, an increase of 1.2% year on year, according to Redfin. Five years ago, the average median price was $795,000. In the half decade since, the average median price has dipped to a low of $650,00 (in March 2018) and has passed the million dollar mark twice, at $1,043,000 in January 2021 and $1,045,000 this past May.

Garden City Median Home Sales Price
September 2016 $795,000
September 2017 $805,000
September 2018 $875,500
September 2019 $850,000
September 2020 $891,500

Of all the homes that sold in September 2021, 37.5% went above the list price, an increase of 125% over 2020 and the third highest such number during the prior five-years, following the 41.4% in June 2018 and the 40.6% we saw this past June. Overall, the sale to list price for Garden City was 99.7% of the list, an increase of 1.4% over prior year.

The average home in Garden City stayed on the market for 24 days, a 40.7% change from the 40-day average we say last September. (In June 2020, the average days on market was 159 days, the highest number at any time in the past five years). More homes were sold in Garden City year on year—32 homes sold in September 2021, an increase of 6.7% from the same period of time last year—while the number of homes showing a drop in price rose 43.6% year on year, to 13.2%.

According to Neighborhood Scout, the five highest appreciating Garden City neighborhoods since the year 2000 have been Adelphi U/South Ave., Garden City South, New Hyde Park Rd./Plattsdale Rd., County Seat Dr./Supreme Ct. Dr., and Franklin Ave./Main St.

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