Is Grand Island, 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, Grand Island has remained a Seller's Market.
Housing Prices in Grand Island, NY
How much do homes in Grand Island, NY cost?
Median Sold Price
$344,750
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Grand Island was $344,750 in March 2024, up 7.8% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $237.7K | $315K | +32.5% |
3 Bedrooms | $304.2K | $347.7K | +14.3% |
4 Bedrooms | $377.5K | $393.7K | +4.3% |
5+ Bedrooms | $565.1K | $291.3K | -48.5% |
Summary: Grand Island 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 32.5%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 48.5%.
Median Sold Price Compared To Nearby Cities
Tonawanda | $211K | $235K | +11.4% |
North Tonawanda | $213K | $234.5K | +10.1% |
Grand Island | $319.9K | $344.7K | +7.8% |
Wheatfield | $325.7K | $350K | +7.4% |
Niagara Falls | $138.3K | $139.9K | +1.2% |
Housing Supply in Grand Island, NY
How many homes are available in Grand Island, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 50 | -10.7% |
Summary: The Grand Island real estate market had 50 homes for sale in March 2024, a 10.7% 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 | 7 | 7 | 0.0% |
3 Bedrooms | 28 | 21 | -25.0% |
4 Bedrooms | 17 | 19 | +11.8% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Grand Island 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Grand Island in March 2024, up by 30.0% month-over-month. Of the 13 sold homes, 38% were sold under asking, 8% were sold at asking, and 54% were sold over asking.
Days on Market for Grand Island, NY
How long does it take to sell a home in Grand Island, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 38 Days | +1.5% |
Summary: Homes in Grand Island had an average of 38 days on market in Mar 2024, up by 1.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in Grand Island; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.