Is Jerusalem, 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, Jerusalem was a Seller's Market.
Key Takeaway
Jerusalem is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Jerusalem, NY
How much do homes in Jerusalem, NY cost?
Median Sold Price
$370,000
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Jerusalem have sold for 51.6% more than they did a year ago.
Summary: The median home sold price in Jerusalem was $370,000 in May 2024, up 51.6% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $224.9K | N/A |
| 2 Bedrooms | $180K | $255K | +41.7% |
| 3 Bedrooms | $241K | $525K | +117.8% |
| 4 Bedrooms | $435K | $342.5K | -21.3% |
| 5+ Bedrooms | $586.7K | - | N/A |
Summary: Jerusalem 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 41.7%, 3 bedroom homes increased by 117.8%, 4 bedroom homes decreased by 21.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Jerusalem | $244K | $370K | +51.6% |
| Penn Yan | $204K | $246.7K | +21.0% |
| Milo | $178.9K | $212K | +18.4% |
Housing Supply in Jerusalem, NY
How many homes are available in Jerusalem, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 19 | +58.3% |
Summary: The Jerusalem real estate market had 19 homes for sale in May 2024, a 58.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 6 | 11 | +83.3% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Jerusalem housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 83.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 100%.
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 Jerusalem, 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 Jerusalem 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 Jerusalem, NY
How long does it take to sell a home in Jerusalem, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 123 Days | 24 Days | -80.6% |
Summary: Homes in Jerusalem had an average of 24 days on market in May 2024, down by 80.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Jerusalem are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Jerusalem; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
IDX Disclaimer/Disclosure: The data on this website relating to real estate for sale comes in part from the IDX Program of the Multiple Listing Service of the Elmira-Corning Regional Association of REALTORS®, Inc.