Is Penfield, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$360,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Penfield have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Penfield was $360,000 in June 2024, up 12.5% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $73.5K | $139.7K | +90.1% |
| 2 Bedrooms | $228K | $243K | +6.6% |
| 3 Bedrooms | $295K | $315K | +6.8% |
| 4 Bedrooms | $380K | $417.5K | +9.9% |
| 5+ Bedrooms | $511K | $505K | -1.2% |
Summary: Penfield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 90.1%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes decreased by 1.2%.
Median Sold Price Compared To Nearby Cities
| Brighton | $280K | $324.8K | +16.0% |
| Irondequoit | $193.5K | $223.6K | +15.5% |
| Penfield | $320K | $360K | +12.5% |
| Walworth | $255K | $282.5K | +10.8% |
| Webster | $315.6K | $342.5K | +8.5% |
Housing Supply in Penfield, NY
How many homes are available in Penfield, NY?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 111 | 95 | -14.4% |
Summary: The Penfield real estate market had 95 homes for sale in June 2024, a 14.4% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 13 | -18.8% |
| 3 Bedrooms | 41 | 38 | -7.3% |
| 4 Bedrooms | 36 | 28 | -22.2% |
| 5+ Bedrooms | 17 | 15 | -11.8% |
Summary: The Penfield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.8%, 3 bedroom homes decreased by 7.3%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 25 | 41 | +64.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penfield, you could pay more than the asking price. 85.4% of homes here sold above asking price last month.
Summary: A total of 41 homes were sold or pending in Penfield in June 2024, up by 64.0% month-over-month. Of the 41 sold homes, 7% were sold under asking, 7% were sold at asking, and 85% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 6 Days | 8 Days | +23.5% |
Summary: Homes in Penfield had an average of 8 days on market in Jun 2024, up by 23.5% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Penfield are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 41 homes were sold in Penfield; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
