Garden City's real estate market is experiencing a price correction, with values down 31.1% from last year. The median home price has fallen to $205,000, a significant 31.1% decrease year-over-year. With 2.0 months of supply, Garden City's inventory levels remain relatively tight. Homes are now taking an average of 89 days to sell, significantly longer than the 38 days typical for this market. A significant 50.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (100.0%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Garden City market with the affordability index at 1980.7. Based on current market indicators, home prices in Garden City are projected to decrease by approximately 17.1% over the next month.