Is Orchard Park, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Orchard Park was a Buyer's Market.
Key Takeaway
Orchard Park 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 Orchard Park, NY
How much do homes in Orchard Park, NY cost?
Median Sold Price
$387,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Orchard Park has remained the same since last year.
Summary: The median home sold price in Orchard Park was $387,000 in March 2024, down 0.4% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $248K | $270.1K | +8.9% |
| 3 Bedrooms | $315K | $344.3K | +9.3% |
| 4 Bedrooms | $495K | $500K | +1.0% |
| 5+ Bedrooms | $680K | $415K | -39.0% |
Summary: Orchard Park 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 8.9%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 39%.
Housing Supply in Orchard Park, NY
How many homes are available in Orchard Park, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 66 | -4.3% |
Summary: The Orchard Park real estate market had 66 homes for sale in March 2024, a 4.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 25 | 22 | -12.0% |
| 4 Bedrooms | 31 | 32 | +3.2% |
| 5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The Orchard Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 12%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 11 | -21.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orchard Park, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Orchard Park in March 2024, down by 21.4% month-over-month. Of the 11 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for Orchard Park, NY
How long does it take to sell a home in Orchard Park, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 72 Days | +42.5% |
Summary: Homes in Orchard Park had an average of 72 days on market in Mar 2024, up by 42.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Orchard Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Orchard Park; 36% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
