Is Cheektowaga, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cheektowaga has remained a Seller's Market.
Key Takeaway
Cheektowaga is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheektowaga, NY
How much do homes in Cheektowaga, NY cost?
Median Sold Price
$218,104
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cheektowaga have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Cheektowaga was $218,104 in March 2024, up 8.7% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $170K | $185K | +8.8% |
| 3 Bedrooms | $205K | $219.7K | +7.2% |
| 4 Bedrooms | $215K | $220K | +2.3% |
| 5+ Bedrooms | $250K | $245K | -2.0% |
Summary: Cheektowaga 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 8.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 2%.
Median Sold Price Compared To Nearby Cities
| Cheektowaga | $200.6K | $218.1K | +8.7% |
| West Seneca | $235.9K | $251.3K | +6.5% |
| Depew | $224.9K | $237K | +5.4% |
| Sloan | $170K | $172.4K | +1.4% |
| Buffalo | $224.9K | $227.1K | +1.0% |
Housing Supply in Cheektowaga, NY
How many homes are available in Cheektowaga, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 223 | 184 | -17.5% |
Summary: The Cheektowaga real estate market had 184 homes for sale in March 2024, a 17.5% 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 | 27 | 21 | -22.2% |
| 3 Bedrooms | 129 | 95 | -26.4% |
| 4 Bedrooms | 34 | 35 | +2.9% |
| 5+ Bedrooms | 33 | 33 | 0.0% |
Summary: The Cheektowaga 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 decreased by 22.2%, 3 bedroom homes decreased by 26.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 65 | 53 | -18.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheektowaga, you could pay more than the asking price. 66% of homes here sold above asking price last month.
Summary: A total of 53 homes were sold or pending in Cheektowaga in March 2024, down by 18.5% month-over-month. Of the 53 sold homes, 25% were sold under asking, 9% were sold at asking, and 66% were sold over asking.
Days on Market for Cheektowaga, NY
How long does it take to sell a home in Cheektowaga, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 16 Days | -24.7% |
Summary: Homes in Cheektowaga had an average of 16 days on market in Mar 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheektowaga are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 53 homes were sold in Cheektowaga; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
