Is Lake George, 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, Lake George has remained a Seller's Market.
Housing Prices in Lake George, NY
How much do homes in Lake George, NY cost?
Median Sold Price
$530,000
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lake George was $530,000 in March 2024, up 41.3% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $641K | N/A |
2 Bedrooms | $141.5K | $168.5K | +19.1% |
3 Bedrooms | $475K | $651.1K | +37.1% |
4 Bedrooms | $435K | $590K | +35.6% |
5+ Bedrooms | $575K | $3.2M | +456.5% |
Summary: Lake George 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 19.1%, 3 bedroom homes increased by 37.1%, 4 bedroom homes increased by 35.6%, and 5+ bedroom homes increased by 456.5%.
Housing Supply in Lake George, NY
How many homes are available in Lake George, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 40 | 0.0% |
Summary: The Lake George real estate market had 40 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 15 | 14 | -6.7% |
3 Bedrooms | 14 | 13 | -7.1% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Lake George 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 6.7%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 7 | +75.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Lake George in March 2024, up by 75.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Lake George, NY
How long does it take to sell a home in Lake George, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
87 Days | 54 Days | -37.8% |
Summary: Homes in Lake George had an average of 54 days on market in Mar 2024, down by 37.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Lake George; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.