Is Allegany, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Allegany was a Neutral Market.
Key Takeaway
Allegany is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Allegany, NY
How much do homes in Allegany, NY cost?
Median Sold Price
$158,500
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Allegany have sold for 14.3% less than they did a year ago.
Summary: The median home sold price in Allegany was $158,500 in May 2024, down 14.3% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $37K | N/A |
| 2 Bedrooms | $115.3K | $147K | +27.5% |
| 3 Bedrooms | $161K | $159.9K | -0.7% |
| 4 Bedrooms | $225K | $193.5K | -14.0% |
| 5+ Bedrooms | $329.9K | $430K | +30.3% |
Summary: Allegany housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.5%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes increased by 30.3%.
Housing Supply in Allegany, NY
How many homes are available in Allegany, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Summary: The Allegany real estate market had 16 homes for sale in May 2024, a 60.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Allegany housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allegany, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Allegany in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Allegany, NY
How long does it take to sell a home in Allegany, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 85 Days | +139.4% |
Summary: Homes in Allegany had an average of 85 days on market in May 2024, up by 139.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Allegany has remained consistent over time.
Summary: During May 2024, 1 homes were sold in Allegany; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
