Is Newfane, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Newfane has remained a Neutral Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145K | - | N/A |
2 Bedrooms | $131K | $158K | +20.6% |
3 Bedrooms | $200K | $245.4K | +22.7% |
4 Bedrooms | $227.5K | $220K | -3.3% |
5+ Bedrooms | $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 | $187.5K | $241K | +28.5% |
Newfane | $190K | $222.5K | +17.1% |
Housing Supply in Newfane, NY
How many homes are available in Newfane, NY?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
16 | 13 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 8 | 6 | -25.0% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 1 | 1 | 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 2024 | Feb 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
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 2023 | Feb 2024 | CHANGE |
---|---|---|
35 Days | 49 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
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.