Richmond Hill Housing Market Report March 2025•Queens County, New York

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Housing Prices in Richmond Hill, NY

How much do homes in Richmond Hill, NY cost?

Housing Market Conditions

Is Richmond Hill, NY a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Richmond Hill is a Buyer's Market

Difference Since February 2025

Last month, Richmond Hill has remained a Buyer's Market.

Insight

Richmond Hill is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$850,000$489/SqFt
-$40,000
-4.5%

Based on all homes sold in March 2025

Insight

Homes in Richmond Hill have sold for 4.5% less than they did a month ago.

Summary: The median home sold price in Richmond Hill was $850,000 in March 2025, down 4.5% from last month, and the median price per square foot was $489.

Median Sold Price By Neighborhoods

Median Sold Price By Neighborhoods
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange MoM
Briarwood
+12.9%
Ozone Park
+2.8%
Richmond Hill
-4.5%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2025Mar 2025Change MoM
1$325K-
N/A
2$350K$440K
+25.7%
3$712.5K$805K
+13.0%
4$920K$892K
-3.0%
5$1.0M$1.0M
-3.7%

Summary: Richmond Hill housing price by bedroom type for March 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +25.7%. The home price for 3 bedroom homes increased by +13.0%. The home price for 4 bedroom homes decreased by -3.0%. The home price for 5 bedroom homes decreased by -3.7%.

How does Richmond Hill, NY compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Richmond Hill, NY

Housing supply in Richmond Hill, NY

How many homes are available in Richmond Hill, NY?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
148Last MonthMar 2025
1472 months agoFeb 2025
+0.7 %
Change MoMFeb – Mar

Summary: The Richmond Hill real estate market had 148 homes for sale in Mar 2025, a 0.7 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
11Last MonthMar 2025
112 months agoFeb 2025
0.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
145
+25.0%
2128
-33.3%
34847
-2.1%
43130
-3.2%
55258
+11.5%

Summary: Richmond Hill housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +25.0%. The inventory for 2 bedroom homes decreased by -33.3%. The inventory for 3 bedroom homes decreased by -2.1%. The inventory for 4 bedroom homes decreased by -3.2%. The inventory for 5 bedroom homes increased by +11.5%.

Asking Price vs. Sold Price

How much do homes in Richmond Hill, NY cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price0 Home

Under Asking Price9 Homes

Insight

If you're buying a home in Richmond Hill, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Richmond Hill in March 2025, the same as the previous month. Of the 11 sold homes, 82% were sold under asking, 0% were sold at asking, and and 18% were sold over asking.

Days on Market for Richmond Hill, NY

How long does it take to sell a home in Richmond Hill, NY?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days5 Homes

Over 90 Days5 Homes

Insight

Avg time on Rocket Homes in Richmond Hill has remained consistent over time.

Summary: During March 2025, 11 homes were sold in Richmond Hill; 9% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
107 DaysLast MonthMar 2025
26 Days1 month agoFeb 2025
+314.0 %
Change MoMFeb – Mar

Summary: Homes in Richmond Hill had an average listing age of 107 days in Mar 2025, up by 314.0% compared to the previous month.

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Newest Listings in Richmond Hill, NY

What homes are available in Richmond Hill, NY?

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MLS Disclaimers and Copyright

Based on information from OneKey MLS, and Real Estate Board of New York for the period 02/01/2025 - 04/01/2025

IDX Listings courtesy of OneKey MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

IDXThe data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.

Information Copyright 2025, OneKey™ MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 4/4/2025, 6:11:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX ©2025 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services.

Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.

This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 4/4/2025, 6:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.