Is Allegany County, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Allegany County is a seller's market

Buyer's
Market

Difference Since October 2021

At the same time last year, Allegany County was a Neutral Market.

Key Takeaway

Allegany County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Allegany County, NY cost?

Median Sold Price

$119,500

$70/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$24,440(+25.7%)

Key Takeaway

Homes in Allegany County have sold for 25.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $63K$63.4K
+0.6%
2 $77.5K$85K
+9.7%
3 $105.5K$124.9K
+18.4%
4 $125K$145K
+16.0%
5+ $129K$147K
+14.0%

Median Sold Price Compared To Nearby Counties

Allegany County
+25.7%
Livingston County
+6.8%
Wyoming County
+6.4%
Steuben County
+0.9%
Cattaraugus County
-1.5%

How many homes are available in Allegany County, NY?

Number of Homes For Sale

Sep 2022Oct 2022%
166133-19.9%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 1410
-28.6%
2 2727
0.0%
3 7460
-18.9%
4 4229
-31.0%
5+ 97
-22.2%

Number of Homes Sold

Sep 2022Oct 2022%
3427-20.6%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Allegany County, you may be able to get a good deal. 59.3% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
43 Days24 Days-43.9%

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Allegany County are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Allegany County, NY

Allegany County, NY has 133 homes on the market. The number of homes for sale in Allegany County, NY decreased by 19.9% between September 2022 and October 2022. Listings spent 24 days on the market in October 2022, and had a median list price of $119,500 during the same period. Listing prices have changed in this real estate market between September 2022 and October 2022: 1 bedroom properties prices increased by 0.6%, prices of 2 bedrooms properties went up by 9.7%, 3 bedrooms properties prices increased by 18.4%, the cost of 4 bedrooms properties went up by 16%, prices of 5 bedrooms properties increased by 14%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory decreased by 28.6%, 2 bedrooms homes did not move, 3 bedrooms homes became 18.9% less available, 4 bedrooms homes became 31% less available, number of 5 bedrooms homes decreased by 22.2%. Over 8 listings were sold over their listed price in October 2022 in Allegany County, NY. In the same period over 16 listings were sold below the listed price and 3 listings were sold for the listed price.

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