Is Depew, 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, Depew has remained a Seller's Market.
Key Takeaway
Depew is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Depew, NY
How much do homes in Depew, NY cost?
Median Sold Price
$237,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Depew have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Depew was $237,000 in March 2024, up 5.4% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $115K | N/A |
| 2 Bedrooms | $216K | $240K | +11.1% |
| 3 Bedrooms | $225K | $230K | +2.2% |
| 4 Bedrooms | $225K | $250K | +11.1% |
| 5+ Bedrooms | $370.5K | $265K | -28.5% |
Summary: Depew 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 11.1%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 28.5%.
Median Sold Price Compared To Nearby Cities
| Cheektowaga | $200.6K | $218.1K | +8.7% |
| Lancaster | $300K | $318K | +6.0% |
| Depew | $224.9K | $237K | +5.4% |
Housing Supply in Depew, NY
How many homes are available in Depew, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 58 | 40 | -31.0% |
Summary: The Depew real estate market had 40 homes for sale in March 2024, a 31.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 9 | +50.0% |
| 3 Bedrooms | 33 | 21 | -36.4% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 10 | 2 | -80.0% |
Summary: The Depew housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 36.4%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 80%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 10 | -58.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Depew, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Depew in March 2024, down by 58.3% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for Depew, NY
How long does it take to sell a home in Depew, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 28 Days | +28.5% |
Summary: Homes in Depew had an average of 28 days on market in Mar 2024, up by 28.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Depew are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Depew; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
