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 3 Days Ago

Newest Listings in Riga, NY

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