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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newfane is a neutral's market

Buyer's
Market

Difference Since February 2023

Since last year, Newfane has remained a Neutral Market.

Key Takeaway

Newfane 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 Newfane, NY

How much do homes in Newfane, NY cost?

Median Sold Price

$222,500

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$32,500(+17.1%)

Key Takeaway

Homes in Newfane have sold for 17.1% more than they did a year ago.

Summary: The median home sold price in Newfane was $222,500 in February 2024, up 17.1% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $145K-
N/A
2 $131K$158K
+20.6%
3 $200K$245.4K
+22.7%
4 $227.5K$220K
-3.3%
5+ $240K$211K
-12.1%

Summary: Newfane housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 12.1%.

Median Sold Price Compared To Nearby Cities

Gasport
+28.5%
Newfane
+17.1%

Housing Supply in Newfane, NY

How many homes are available in Newfane, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1613-18.8%

Summary: The Newfane real estate market had 13 homes for sale in February 2024, a 18.8% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 44
0.0%
3 86
-25.0%
4 32
-33.3%
5+ 11
0.0%

Summary: The Newfane 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
220.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newfane, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Newfane in February 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Newfane, NY

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

Average Sale Time

Feb 2023Feb 2024CHANGE
35 Days49 Days+41.4%

Summary: Homes in Newfane had an average of 49 days on market in Feb 2024, up by 41.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 2 homes were sold in Newfane; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 27 Days Ago

Newest Listings in Newfane, NY

Nearby Markets to Newfane, NY