Is Palermo, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Palermo was a Seller's Market.
Key Takeaway
Palermo 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 Palermo, NY
How much do homes in Palermo, NY cost?
Median Sold Price
$169,494
$120/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Palermo have sold for 33% less than they did a month ago.
Summary: The median home sold price in Palermo was $169,494 in May 2024, down 33% from last month, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $261K | $169.4K | -35.1% |
| 4 Bedrooms | $171K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Palermo housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 35.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Palermo | $253K | $169.4K | -33.0% |
| Pennellville | $880K | $204.7K | -76.7% |
Housing Supply in Palermo, NY
How many homes are available in Palermo, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Summary: The Palermo real estate market had 7 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Palermo 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 decreased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Palermo, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Palermo in May 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Palermo, NY
How long does it take to sell a home in Palermo, NY?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 68 Days | +423.1% |
Summary: Homes in Palermo had an average of 68 days on market in May 2024, up by 423.1% compared to last month.
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 Palermo has remained consistent over time.
Summary: During May 2024, 1 homes were sold in Palermo; 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.
