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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Geneva is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Geneva was a Seller's Market.

Key Takeaway

Geneva is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Geneva, NY

How much do homes in Geneva, NY cost?

Median Sold Price

$187,500

$106/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$17,500(+10.3%)

Key Takeaway

Homes in Geneva have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in Geneva was $187,500 in February 2024, up 10.3% from last year, and the median price per square foot was $106.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $625K-
N/A
2 $150K$185.4K
+23.6%
3 $165K$187K
+13.3%
4 $180K$197.7K
+9.9%
5+ $176.5K$168.5K
-4.5%

Summary: Geneva housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.6%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes decreased by 4.5%.

Housing Supply in Geneva, NY

How many homes are available in Geneva, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6249-21.0%

Summary: The Geneva real estate market had 49 homes for sale in February 2024, a 21.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 64
-33.3%
3 3125
-19.4%
4 1712
-29.4%
5+ 77
0.0%

Summary: The Geneva housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 19.4%, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
166-62.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 6 homes were sold or pending in Geneva in February 2024, down by 62.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Geneva, NY

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

Average Sale Time

Feb 2023Feb 2024CHANGE
28 Days29 Days+4.1%

Summary: Homes in Geneva had an average of 29 days on market in Feb 2024, up by 4.1% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 6 homes were sold in Geneva; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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 28 Days Ago

Newest Listings in Geneva, NY

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