I just pulled July's Great Neck market data, and here's what stands out: sellers are walking away with 102.6% of their asking price, homes are moving in just 5 days, and inventory is tight at 1.23 months. If you've been wondering whether now is a good time to sell in Great Neck — or what the competition looks like if you're buying — the numbers tell a clear story. Here's what actually happened in the Great Neck market last month.
---
The Great Neck Market Right Now
Let me start with the topline: 35 new homes came to market in July, 22 closed, and we're sitting on 27 active listings. Put those numbers together and you get 1.23 months of inventory — that's a strong seller's market. When months of inventory dips below 2.0, it means supply is tight relative to demand. There are more buyers ready to move than there are homes available, which shifts the advantage firmly to sellers.
What does that look like in practice? Homes that are priced right are selling without hesitation. You'll hear people talk about "buyer's market" and "seller's market" like it's a switch, but the real truth is it's about inventory. In July, that tight supply meant serious buyers had to act fast when they found something they liked. For sellers, it meant their homes had real value, and if they priced competitively, they had multiple options and could negotiate from strength.
The market condition is straightforward: if you're thinking about selling, July's data shows you the conditions are in your favor. If you're buying, you're working in a competitive market where speed and readiness matter.
---
What Are Homes Actually Selling For?
Here's where it gets interesting. Median sale price came in at $741,000 — that's down 7.4% from June and down 14.8% from July 2025. Before that sounds like a collapse, context matters. The average sale price was $826,564, and the mix of homes that closed in July was different from prior months. Fewer luxury sales in July than June means the aggregate numbers pull down, but that doesn't mean the market weakened — it just means the composition shifted.
Price per square foot was $339, holding nearly flat from June. That's a more honest read: on a per-unit basis, Great Neck homes are stable. The median tells you the midpoint home is around $741K. The average tells you that homes across the full price spectrum are selling, with some higher-end sales pulling the average up.
Where the real action is: break the market into three price bands and the picture becomes crystal clear. Below $600K, we had 6 sales. Mid-market ($600K–$900K) was the engine — 9 of 22 sales closed there, with a median of $735K and homes moving in just 4 days at 101% of asking price. Sellers in that band are getting above-ask offers and moving fast. Above $900K, luxury homes are steady too — 7 sales, still moving in 4 days, though sellers averaged 98.7% of ask. The mid-market is where pricing discipline pays off most.
---
Is Now a Good Time to Sell or Buy in Great Neck?
For Sellers: If you're thinking about listing, July shows you should. Homes that are priced at fair market value are selling above asking price and moving in days, not weeks. The median sale took just 5 days on market. That's not a coincidence — it's a signal that when you price right, the market moves fast. The flip side: homes that start overpriced stall. One Broad Bay Colony property we'll talk about started at $2.245 million in December, had to reprice twice, and finally sold at $1.85 million in July. The lesson is clear: price correctly from day one, and you'll sell quickly and above ask. Price too high, and you'll spend months adjusting downward.
For Buyers: Inventory is tight. 27 active homes is not a lot, which means less selection and more competition for good properties. But that scarcity also means when a home hits the market, it gets serious attention from serious buyers. The mid-market ($600K–$900K) is where most activity is concentrated. If you're shopping in that range, you need to know what you want and be ready to move fast — homes are gone in 4 days. Competition is real, but so is buyer demand. Good homes will attract multiple offers.
The Bottom Line: Great Neck is a strong seller's market right now. Inventory is constrained, homes are moving quickly, and sellers who price competitively are getting premium offers. For buyers, it's competitive but fair — you just need to be ready.
---
Three Sales Worth Talking About
1. 1264 Parkside Pl, Lake Trant — $715,000
This Lake Trant home listed at $675,000 and sold the same day for $715,000 — 6% above asking, zero days on market. This is textbook market signal: when you price a home right, buyers respond immediately. If you own a home like this in Lake Trant, this tells you there's real demand, and if you're priced fairly, you'll move fast. The buyer saw the value and didn't wait. That's the kind of momentum you want as a seller.
2. 2033 Sunset Pt, Baycliff — $1,800,000
Baycliff's standout sale of the month — listed and sold at $1.8 million, zero days on market. This is our highest sale of July and a signal that luxury Great Neck is holding strong. Waterfront homes priced at fair value are selling cleanly. If you're thinking about selling a luxury Baycliff property, this tells you the luxury market is confident and ready. Buyers at that level are acting decisively when they find the right home.
3. 2001 English Cedar Cir, Broad Bay Colony — $1,850,000
This one tells a longer story, and it's the most important lesson of the month. Originally listed at $2.245 million in December, this Broad Bay Colony home was withdrawn from the market when it became clear it was overpriced. It came back in February at $1.949 million, and finally sold in July at $1.85 million — a 180-day arc. Here's what this tells you: the market doesn't punish sellers, but it does reward pricing discipline. Overpriced homes stall. Correctly priced homes sell. If you're a seller, this is your cautionary tale. If you're buying, this is confirmation that patience and strategic pricing eventually work out.
---
What Should You Do Now?
If you're thinking about selling in Great Neck, the data is on your side. Inventory is tight, homes are moving fast, and sellers are getting premium offers when priced right. The question isn't whether to sell — it's when and at what price. I run free no-obligation home value assessments for anyone wondering where they stand in this market. We'll look at comparable sales, price trends, and your specific situation so you can make an informed decision.
If you're buying, know that competition is real but the fundamentals are sound. The mid-market is where most activity is happening. Be ready when you find the right home.
Reach out and let's talk about your situation — whether you're thinking about selling, buying, or just curious what your home is worth in today's Great Neck market. And if you'd like a deeper dive into Great Neck trends, market insights, and neighborhood analysis, check out the Great Neck Insider Report — a monthly resource packed with data, strategy, and local perspective.
---