Is Amherst, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Amherst is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Amherst has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Amherst, NY

How much do homes in Amherst, NY cost?

Median Sold Price

$332,587

$191/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$32,443(+10.8%)

Key Takeaway

Homes in Amherst have sold for 10.8% more than they did a year ago.

Summary: The median home sold price in Amherst was $332,587 in February 2024, up 10.8% from last year, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $125K$138K
+10.4%
2 $195K$215K
+10.3%
3 $281.8K$313.5K
+11.3%
4 $410K$430K
+4.9%
5+ $492.5K$513.6K
+4.3%

Summary: Amherst housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 4.3%.

Median Sold Price Compared To Nearby Cities

Getzville
+22.3%
Amherst
+10.8%
Williamsville
+9.7%
North Tonawanda
+9.1%

Housing Supply in Amherst, NY

How many homes are available in Amherst, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
236210-11.0%

Summary: The Amherst real estate market had 210 homes for sale in February 2024, a 11.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 03
+100.0%
2 5452
-3.7%
3 9989
-10.1%
4 5848
-17.2%
5+ 2518
-28.0%

Summary: The Amherst housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes decreased by 10.1%, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes decreased by 28%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
7645-40.8%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Amherst, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.

Summary: A total of 45 homes were sold or pending in Amherst in February 2024, down by 40.8% month-over-month. Of the 45 sold homes, 47% were sold under asking, 7% were sold at asking, and 47% were sold over asking.

Days on Market for Amherst, NY

How long does it take to sell a home in Amherst, NY?

Average Sale Time

Feb 2023Feb 2024CHANGE
26 Days38 Days+41.9%

Summary: Homes in Amherst had an average of 38 days on market in Feb 2024, up by 41.9% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 45 homes were sold in Amherst; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

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

Report Updated 27 Days Ago

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