Is Riga, 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, 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
$258,024
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Riga have sold for 17.3% more than they did a year ago.
Summary: The median home sold price in Riga was $258,024 in June 2024, up 17.3% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $152.5K | $180.5K | +18.4% |
| 3 Bedrooms | $215K | $260K | +20.9% |
| 4 Bedrooms | $276.5K | $270K | -2.4% |
| 5+ Bedrooms | $350K | $278K | -20.6% |
Summary: Riga housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 20.9%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 20.6%.
Median Sold Price Compared To Nearby Cities
| Wheatland | $167.7K | $259.9K | +55.0% |
| North Chili | $243K | $302K | +24.3% |
| Riga | $220K | $258K | +17.3% |
| Ogden | $241.5K | $275K | +13.9% |
| Churchville | $264K | $271K | +2.7% |
Housing Supply in Riga, NY
How many homes are available in Riga, NY?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Summary: The Riga real estate market had 10 homes for sale in June 2024, a 23.1% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Riga 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 increased by 100%, 3 bedroom homes decreased by 40%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
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 6 homes were sold or pending in Riga in June 2024, up by 50.0% month-over-month. Of the 6 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 6 Days | 7 Days | +17.2% |
Summary: Homes in Riga had an average of 7 days on market in Jun 2024, up by 17.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riga are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 6 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.
