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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hamburg is a neutral's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

Hamburg 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 Hamburg, NY

How much do homes in Hamburg, NY cost?

Median Sold Price

$300,000

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$20,000(+7.1%)

Key Takeaway

Homes in Hamburg have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Hamburg was $300,000 in February 2024, up 7.1% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $170K$168K
-1.2%
2 $215K$230K
+7.0%
3 $266K$280K
+5.3%
4 $350K$385K
+10.0%
5+ $388.7K$355K
-8.7%

Summary: Hamburg housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 8.7%.

Housing Supply in Hamburg, NY

How many homes are available in Hamburg, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7469-6.8%

Summary: The Hamburg real estate market had 69 homes for sale in February 2024, a 6.8% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 1211
-8.3%
3 3835
-7.9%
4 1517
+13.3%
5+ 85
-37.5%

Summary: The Hamburg 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 8.3%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 37.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2811-60.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hamburg, you could pay more than the asking price. 81.8% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Hamburg in February 2024, down by 60.7% month-over-month. Of the 11 sold homes, 18% were sold under asking, 0% were sold at asking, and 82% were sold over asking.

Days on Market for Hamburg, NY

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

Average Sale Time

Feb 2023Feb 2024CHANGE
25 Days16 Days-34.7%

Summary: Homes in Hamburg had an average of 16 days on market in Feb 2024, down by 34.7% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 11 homes were sold in Hamburg; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% 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

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