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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette is a seller's market

Buyer's
Market

Difference Since October 2021

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

Key Takeaway

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

How much do homes in Fayette, NY cost?

Median Sold Price

$247,450

$110/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$67,950(+37.9%)

Key Takeaway

Homes in Fayette have sold for 37.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 -$444.9K
N/A
2 $242.5K$358.7K
+47.9%
3 $162.7K$263.7K
+62.1%
4 $379.9K$210.5K
-44.6%
5+ $222.4K$329.9K
+48.3%

Median Sold Price Compared To Nearby Cities

Fayette
+37.9%
Geneva
+13.1%

How many homes are available in Fayette, NY?

Number of Homes For Sale

Sep 2022Oct 2022%
98-11.1%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 11
0.0%
2 22
0.0%
3 54
-20.0%
4 11
0.0%
5+ 00
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
23+50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fayette, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
28 Days11 Days-59.5%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fayette 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 Fayette, NY

There are 8 homes are for sale in Fayette, NY real estate market. The number of listings in Fayette, NY decreased by 11.1% between September 2022 and October 2022. In October 2022, listings were on the market for 11 days. During the same period, the median list price in this real estate market was $247,450. Real estate listing prices changed between September 2022 and October 2022: 1 bedroom properties prices increased by 0%, the cost of 2 bedrooms properties went up by 47.9%, prices of 3 bedrooms properties increased by 62.1%, 4 bedrooms properties became 44.6% more cheaper, 5 bedrooms properties became 48.3% more expensive. Volume of homes for sale changed: 1 bedroom homes did not move, number of 2 bedrooms homes remained the same, number of 3 bedrooms homes decreased by 20%, volume of 4 bedrooms homes stayed the same, volume of 5 bedrooms homes stayed the same. In October 2022 more than 2 listings in Fayette, NY were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 1 were sold below.

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