Is Hamburg, 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, Hamburg was a Seller's Market.
Key Takeaway
Hamburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Hamburg, NY
How much do homes in Hamburg, NY cost?
Median Sold Price
$300,250
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hamburg have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Hamburg was $300,250 in March 2024, up 7.2% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $168K | -1.2% |
| 2 Bedrooms | $215K | $230K | +7.0% |
| 3 Bedrooms | $265.5K | $285.5K | +7.6% |
| 4 Bedrooms | $350K | $382.5K | +9.3% |
| 5+ Bedrooms | $355K | $368.7K | +3.9% |
Summary: Hamburg housing prices by bedroom type for March 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 7.6%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 3.9%.
Housing Supply in Hamburg, NY
How many homes are available in Hamburg, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 77 | 81 | +5.2% |
Summary: The Hamburg real estate market had 81 homes for sale in March 2024, a 5.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 38 | 44 | +15.8% |
| 4 Bedrooms | 21 | 24 | +14.3% |
| 5+ Bedrooms | 5 | 2 | -60.0% |
Summary: The Hamburg 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 decreased by 16.7%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hamburg, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Hamburg in March 2024, down by 23.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 33 Days | +32.7% |
Summary: Homes in Hamburg had an average of 33 days on market in Mar 2024, up by 32.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hamburg are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Hamburg; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
