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Featured local agent — Great Neck Gardens, NY
Sarah Mitchell
Compass Real Estate · Great Neck Gardens, NY
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Great Neck Gardens, NY Housing Market
The last median sale price Redfin published was $1.24M, -29.8% year over year (through May 2026). With 1.0 months of supply and homes going under contract in about 27 days, Great Neck Gardens is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $1.24M home is about $6,620/mo in principal and interest.
Key numbers for Great Neck Gardens, NY
Median sale price
$1.24M
-29.8% year over year
Redfin, through February 2026
Days on market
27
Average pace
Redfin, through February 2026
Active listings
1
1.0 months of supply
Redfin, through February 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Sale-to-list ratio
96.3%
Selling below asking
Redfin, through February 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Great Neck Gardens a buyer's or seller's market?
Great Neck Gardens, NY is a seller's market, based on 1.0 months of supply and homes selling in about 27 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Great Neck Gardens housing market data show?
Every row below is Redfin's final published month for Great Neck Gardens, NY. Redfin, through February 2026
| Metric | Value |
|---|---|
| Median sale price | $1.24M |
| Median list price | $1.70M |
| Year-over-year price change | -29.8% |
| Median price per sq ft | $523/sq ft |
| Median days on market | 27 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 96.3% |
| Homes sold (that month) | 1 |
| New listings (that month) | 1 |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Great Neck Gardens is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Great Neck Gardens is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Great Neck Gardens home prices moved?
Over the last three years the median sale price in Great Neck Gardens, NY rose 6.7%, from $1.16M to $1.24M. For prices to fall meaningfully from here, supply would have to keep building past 1.0 months while the sale-to-list ratio slips below its current 96.3%. Watch those two together — they move before the median does.
Redfin, through February 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Great Neck Gardens?
Priced off the median sale price of $1.24M at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $248,000 | $992,000 | $6,620/mo |
| 5% | $62,000 | $1.18M | $7,861/mo |
Redfin, through February 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $6,620, that implies roughly $283,706 a year before you add taxes and insurance. We do not hold a Census income figure for Great Neck Gardens, so we cannot compare that threshold to local earnings.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Great Neck Gardens in the next 12 months?
Tell us your timeline. We send the Great Neck Gardens market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Great Neck Gardens?
Zillow does not publish a rent index (ZORI) for Great Neck Gardens, NY, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Great Neck Gardens?
Active listings in Great Neck Gardens, NY went from 5 in April 2024 to 1 in February 2026, a -80.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2024 | 3 | 2 |
| July 2024 | 2 | 1 |
| August 2024 | 4 | 3 |
| September 2024 | 3 | 2 |
| October 2024 | 5 | 3 |
| January 2025 | 2 | 2 |
| April 2025 | 2 | 1 |
| July 2025 | 2 | 1 |
| August 2025 | 2 | not published |
| September 2025 | 2 | not published |
| December 2025 | 1 | not published |
| February 2026 | 1 | 1 |
Redfin, through February 2026
How does Great Neck Gardens compare to New York and the U.S.?
Great Neck Gardens homes sell for $1.24M — 100% above the New York median of $620,500. Against the national median of $410,700, Great Neck Gardens runs 202% higher. Year-over-year, Great Neck Gardens moved -29.8% against New York's +5.1% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Great Neck Gardens, NY | $1.24M | -29.8% | 27 days |
| New York statewide | $620,500 | +5.1% | 42 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through February 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Great Neck Gardens
What buyers should watch
- Months of supply, currently 1.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The gap between 5% and 20% down here is $1,241 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $1.24M home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Great Neck Gardens listing goes under contract in 27 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 96.3% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Great Neck Gardens added 1 new listings against 1 sales — more clearing than arriving, which is the better window to list.
- Comparable ZIP-level pricing inside Great Neck Gardens varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Great Neck Gardens
There are currently 1 homes listed for sale in Great Neck Gardens, New York. The median listing price is $1.7M.
Active listings
1
Homes on market
Median list price
$1.7M
Avg. days on market
27
Days until sale
New this week
1
Newly listed
How much do homes cost in Great Neck Gardens by property type?
How the Great Neck Gardens, NY market breaks down across single-family homes, condos and townhouses. Redfin, through February 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.24M | $523/sq ft | 1 | 27 days |
Who lives in Great Neck Gardens?
American Community Survey estimates for Great Neck Gardens. U.S. Census ACS, 2023
Population
1,245
Households
431
Median age
58.5 years
Owner-occupied
69.6%
Median home value
$1.14M
Mean commute
31.3 min
69.6% of occupied homes in Great Neck Gardens are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which cities are near Great Neck Gardens, NY?
Ordered by distance from Great Neck Gardens, not by size. Compare Great Neck Gardens side by side with any of them.
Great Neck Gardens housing market FAQ
Is Great Neck Gardens a buyer's or seller's market?
Great Neck Gardens, NY is currently a seller's market. That read comes from 1.0 months of supply, homes going under contract in about 27 days, and sellers getting 96.3% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Great Neck Gardens?
The median sale price in the last month Redfin published was $1.24M, about $523 per square foot.
Is Great Neck Gardens cheaper than the rest of New York?
Great Neck Gardens's median sale price of $1.24M is 100% higher than the New York statewide median of $620,500, and 202% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Great Neck Gardens?
Homes in Great Neck Gardens, NY spent a median of 27 days on market before going under contract, versus 42 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Great Neck Gardens?
At the current 30-year fixed rate of 7.03%, 20% down on a $1.24M home is about $6,620 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $283,706 a year before taxes, insurance, HOA dues or mortgage insurance.
Are home prices rising in Great Neck Gardens?
Redfin's last published year-over-year change for Great Neck Gardens, NY was -29.8%, measured through May 2026. That series is frozen; treat it as a historical reading rather than a current trend.
What are the cheapest ZIP codes in Great Neck Gardens?
Great Neck Gardens ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Great Neck Gardens?
That depends on your timeline, not on a headline. What the data says today: Great Neck Gardens, NY is a seller's market with 1.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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