The housing market in Great Neck, NY is renowned for its high median value of $1,241,000. This is significantly higher than the US median house value of $338,100. Despite this difference in prices, the appreciation rate for houses in Great Neck is only slightly lower at 7.99% compared to the national average of 8.27%. This suggests that the real estate market in Great Neck remains strong and offers a good opportunity for potential buyers.
The median home cost in Great Neck is $1,241,000. Home appreciation the last 10 years has been 70.5%. Home Appreciation in Great Neck is up 11.6%.
Average Age of Homes
- The median age of Great Neck real estate is 66 years old
The Rental Market in Great Neck
- Renters make up 23.4% of the Great Neck population
- 2.9% of houses and apartments in Great Neck, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.