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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riga is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Riga has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Riga, NY

How much do homes in Riga, NY cost?

Median Sold Price

$228,000

$156/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

-$147,900(-39.3%)

Key Takeaway

Homes in Riga have sold for 39.3% less than they did a month ago.

Summary: The median home sold price in Riga was $228,000 in February 2024, down 39.3% from last month, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $349.9K$228K
-34.8%
4 $308.4K-
N/A
5+ $624.9K-
N/A

Summary: Riga housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 34.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Riga, NY

How many homes are available in Riga, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
107-30.0%

Summary: The Riga real estate market had 7 homes for sale in February 2024, a 30.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 45
+25.0%
4 41
-75.0%
5+ 11
0.0%

Summary: The Riga 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 decreased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 75%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riga, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in Riga in February 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Riga, NY

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

Average Sale Time

Jan 2024Feb 2024CHANGE
36 Days6 Days-83.3%

Summary: Homes in Riga had an average of 6 days on market in Feb 2024, down by 83.3% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 2 homes were sold in Riga; 100% of homes were sold within 30 days, 0% 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 28 Days Ago

Newest Listings in Riga, NY

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