Is Phelps, 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, Phelps was a Buyer's Market.
Key Takeaway
Phelps is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Phelps, NY
How much do homes in Phelps, NY cost?
Median Sold Price
$190,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Phelps have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Phelps was $190,000 in March 2024, up 9.8% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $190K | N/A |
| 2 Bedrooms | $173K | $147.1K | -15.0% |
| 3 Bedrooms | $160K | $199.4K | +24.7% |
| 4 Bedrooms | $201K | $205.5K | +2.2% |
| 5+ Bedrooms | $259K | $275K | +6.2% |
Summary: Phelps 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 decreased by 15%, 3 bedroom homes increased by 24.7%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 6.2%.
Housing Supply in Phelps, NY
How many homes are available in Phelps, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Summary: The Phelps real estate market had 10 homes for sale in March 2024, a 42.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 6 | +100.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Phelps 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Phelps, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Phelps in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% were sold over asking.
Days on Market for Phelps, NY
How long does it take to sell a home in Phelps, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 141 Days | 13 Days | -90.4% |
Summary: Homes in Phelps had an average of 13 days on market in Mar 2024, down by 90.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Phelps are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Phelps; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
