Is Allegany, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Allegany was a Buyer's Market.
Key Takeaway
Allegany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Allegany, NY
How much do homes in Allegany, NY cost?
Median Sold Price
$148,500
$108/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Allegany have sold for 18.6% less than they did a year ago.
Summary: The median home sold price in Allegany was $148,500 in March 2024, down 18.6% from last year, and the median price per square foot was $108.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $37K | N/A |
| 2 Bedrooms | $110K | $125K | +13.6% |
| 3 Bedrooms | $138.5K | $159.9K | +15.5% |
| 4 Bedrooms | $223.2K | $152K | -31.9% |
| 5+ Bedrooms | $341.1K | $440K | +29.0% |
Summary: Allegany housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 15.5%, 4 bedroom homes decreased by 31.9%, and 5+ bedroom homes increased by 29%.
Housing Supply in Allegany, NY
How many homes are available in Allegany, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Summary: The Allegany real estate market had 14 homes for sale in March 2024, a 17.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Allegany housing inventory by bedroom type for March 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 22.2%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 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. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Allegany in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 3 Days | 63 Days | +2022.2% |
Summary: Homes in Allegany had an average of 63 days on market in Mar 2024, up by 2022.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Allegany has remained consistent over time.
Summary: During March 2024, 6 homes were sold in Allegany; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
