Is Newfane, 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, Newfane has remained a Seller's Market.
Key Takeaway
Newfane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newfane, NY
How much do homes in Newfane, NY cost?
Median Sold Price
$235,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Newfane have sold for 23.7% more than they did a year ago.
Summary: The median home sold price in Newfane was $235,000 in March 2024, up 23.7% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | - | N/A |
| 2 Bedrooms | $138K | $158.5K | +14.9% |
| 3 Bedrooms | $208.5K | $249.9K | +19.9% |
| 4 Bedrooms | $220K | $225K | +2.3% |
| 5+ Bedrooms | $240K | $211K | -12.1% |
Summary: Newfane 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 14.9%, 3 bedroom homes increased by 19.9%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 12.1%.
Median Sold Price Compared To Nearby Cities
| Gasport | $182.5K | $245.4K | +34.5% |
| Newfane | $190K | $235K | +23.7% |
Housing Supply in Newfane, NY
How many homes are available in Newfane, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Summary: The Newfane real estate market had 18 homes for sale in March 2024, a 5.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Newfane 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 increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Newfane, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Newfane in March 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 9 Days | -78.8% |
Summary: Homes in Newfane had an average of 9 days on market in Mar 2024, down by 78.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newfane are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Newfane; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
