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

Housing Market Conditions



Gauge showing Penfield is a seller's market


Difference Since February 2023

Since last year, Penfield has remained a Seller's Market.

Key Takeaway

Penfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Penfield, NY

How much do homes in Penfield, NY cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since February 2023


Key Takeaway

Homes in Penfield have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Penfield was $337,844 in February 2024, up 4.4% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $73.5K-
2 $215K$240K
3 $290K$301K
4 $382.5K$409K
5+ $488.7K$505K

Summary: Penfield 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 11.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities


Housing Supply in Penfield, NY

How many homes are available in Penfield, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE

Summary: The Penfield real estate market had 51 homes for sale in February 2024, a 21.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
2 1011
3 1517
4 1518
5+ 25

Summary: The Penfield 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 increased by 10%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 150%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Penfield, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Penfield in February 2024, down by 25.0% month-over-month. Of the 12 sold homes, 8% were sold under asking, 17% were sold at asking, and 75% were sold over asking.

Days on Market for Penfield, NY

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

Average Sale Time

Feb 2023Feb 2024CHANGE
9 Days11 Days+23.0%

Summary: Homes in Penfield had an average of 11 days on market in Feb 2024, up by 23% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 12 homes were sold in Penfield; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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 3 Days Ago

Newest Listings in Penfield, NY

Nearby Markets to Penfield, NY

What housing markets are near Penfield, NY?