Is Lyell / Otis, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lyell / Otis has remained a Seller's Market.
Key Takeaway
Lyell / Otis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lyell / Otis, NY
How much do homes in Lyell / Otis, NY cost?
Median Sold Price
$80,000
$57/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Lyell / Otis has remained the same since last year.
Summary: The median home sold price in Lyell / Otis was $80,000 in April 2024, up 0.1% from last year, and the median price per square foot was $57.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $10K | N/A |
| 2 Bedrooms | $70K | $75K | +7.1% |
| 3 Bedrooms | $90K | $102K | +13.3% |
| 4 Bedrooms | $76K | $72K | -5.3% |
| 5+ Bedrooms | $71.4K | $97.5K | +36.5% |
Summary: Lyell / Otis housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 36.5%.
Housing Supply in Lyell / Otis, NY
How many homes are available in Lyell / Otis, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 41 | -6.8% |
Summary: The Lyell / Otis real estate market had 41 homes for sale in April 2024, a 6.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 16 | 12 | -25.0% |
Summary: The Lyell / Otis housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lyell / Otis, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Lyell / Otis in April 2024, up by 37.5% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for Lyell / Otis, NY
How long does it take to sell a home in Lyell / Otis, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 13 Days | 22 Days | +62.6% |
Summary: Homes in Lyell / Otis had an average of 22 days on market in Apr 2024, up by 62.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lyell / Otis are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in Lyell / Otis; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
