Is Depew, 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, Depew was a Seller's Market.
Key Takeaway
Depew is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Depew, NY
How much do homes in Depew, NY cost?
Median Sold Price
$241,018
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Depew have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Depew was $241,018 in May 2024, up 7.2% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $115K | N/A |
| 2 Bedrooms | $216K | $240K | +11.1% |
| 3 Bedrooms | $224.9K | $234.9K | +4.4% |
| 4 Bedrooms | $235K | $251K | +6.8% |
| 5+ Bedrooms | $300.2K | $265K | -11.7% |
Summary: Depew 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 11.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Cheektowaga | $200.8K | $220K | +9.5% |
| Depew | $224.9K | $241K | +7.2% |
| Lancaster | $311.5K | $319K | +2.4% |
Housing Supply in Depew, NY
How many homes are available in Depew, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 74 | +23.3% |
Summary: The Depew real estate market had 74 homes for sale in May 2024, a 23.3% 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 | 9 | 8 | -11.1% |
| 3 Bedrooms | 35 | 45 | +28.6% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The Depew 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 decreased by 11.1%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 12 | -36.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Depew, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Depew in May 2024, down by 36.8% month-over-month. Of the 12 sold homes, 8% were sold under asking, 17% were sold at asking, and 75% were sold over asking.
Days on Market for Depew, NY
How long does it take to sell a home in Depew, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 13 Days | +0.7% |
Summary: Homes in Depew had an average of 13 days on market in May 2024, up by 0.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Depew are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Depew; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
