Is Elma, 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, Elma was a Seller's Market.
Key Takeaway
Elma is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Elma, NY
How much do homes in Elma, NY cost?
Median Sold Price
$387,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elma have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Elma was $387,000 in March 2024, up 3.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145.5K | - | N/A |
| 2 Bedrooms | $260.5K | $300K | +15.2% |
| 3 Bedrooms | $371.2K | $350K | -5.7% |
| 4 Bedrooms | $462.2K | $417.5K | -9.7% |
| 5+ Bedrooms | $455.5K | $425K | -6.7% |
Summary: Elma 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 15.2%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Cities
| Elma | $375K | $387K | +3.2% |
| Aurora | $390K | $400K | +2.6% |
Housing Supply in Elma, NY
How many homes are available in Elma, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 25 | +25.0% |
Summary: The Elma real estate market had 25 homes for sale in March 2024, a 25.0% increase 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 | 6 | +500.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Elma 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 increased by 500%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elma, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Elma in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Elma, NY
How long does it take to sell a home in Elma, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 13 Days | 32 Days | +141.9% |
Summary: Homes in Elma had an average of 32 days on market in Mar 2024, up by 141.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elma has remained consistent over time.
Summary: During March 2024, 4 homes were sold in Elma; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
