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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Penfield is a seller's market

Buyer'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

$337,844

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$14,094(+4.4%)

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-
N/A
2 $215K$240K
+11.6%
3 $290K$301K
+3.8%
4 $382.5K$409K
+6.9%
5+ $488.7K$505K
+3.3%

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

Brighton
+18.3%
Irondequoit
+15.8%
Webster
+10.4%
Walworth
+8.2%
Penfield
+4.4%

Housing Supply in Penfield, NY

How many homes are available in Penfield, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4251+21.4%

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
0.0%
2 1011
+10.0%
3 1517
+13.3%
4 1518
+20.0%
5+ 25
+150.0%

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
1612-25.0%

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

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