Is Herkimer County, 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, Herkimer County has remained a Seller's Market.
Key Takeaway
Herkimer County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Herkimer County, NY
How much do homes in Herkimer County, NY cost?
Median Sold Price
$155,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Herkimer County have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in Herkimer County was $155,000 in March 2024, down 3.1% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $251.2K | $80K | -68.2% |
| 2 Bedrooms | $136K | $133.7K | -1.7% |
| 3 Bedrooms | $153.4K | $149.9K | -2.3% |
| 4 Bedrooms | $191.4K | $181.2K | -5.3% |
| 5+ Bedrooms | $180K | $183.4K | +1.9% |
Summary: Herkimer County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.2%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Counties
| Fulton County | $148.2K | $162.2K | +9.5% |
| Montgomery County | $160K | $174.9K | +9.3% |
| Oneida County | $182.5K | $187.8K | +2.9% |
| Hamilton County | $275K | $282K | +2.5% |
| Herkimer County | $160K | $155K | -3.1% |
Housing Supply in Herkimer County, NY
How many homes are available in Herkimer County, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 172 | 169 | -1.7% |
Summary: The Herkimer County real estate market had 169 homes for sale in March 2024, a 1.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 21 | 19 | -9.5% |
| 3 Bedrooms | 66 | 76 | +15.2% |
| 4 Bedrooms | 51 | 41 | -19.6% |
| 5+ Bedrooms | 32 | 31 | -3.1% |
Summary: The Herkimer County 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 9.5%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 19.6%, and 5+ bedroom homes decreased by 3.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 29 | +38.1% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Herkimer County, you may be able to get a good deal. 62.1% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Herkimer County in March 2024, up by 38.1% month-over-month. Of the 29 sold homes, 62% were sold under asking, 14% were sold at asking, and 24% were sold over asking.
Days on Market for Herkimer County, NY
How long does it take to sell a home in Herkimer County, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 61 Days | +6.4% |
Summary: Homes in Herkimer County had an average of 61 days on market in Mar 2024, up by 6.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Herkimer County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 29 homes were sold in Herkimer County; 45% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.