Is Salamanca, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Salamanca has remained a Seller's Market.
Key Takeaway
Salamanca is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Salamanca, NY
How much do homes in Salamanca, NY cost?
Median Sold Price
$82,000
$51/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Salamanca have sold for 8.9% less than they did a year ago.
Summary: The median home sold price in Salamanca was $82,000 in March 2024, down 8.9% from last year, and the median price per square foot was $51.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $90K | $58.5K | -35.0% |
| 3 Bedrooms | $81K | $82K | +1.2% |
| 4 Bedrooms | $96K | $99.9K | +4.1% |
| 5+ Bedrooms | $94K | $126K | +34.0% |
Summary: Salamanca 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 35%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 34%.
Housing Supply in Salamanca, NY
How many homes are available in Salamanca, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Salamanca real estate market had 17 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Salamanca 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 increased by 200%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salamanca, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Salamanca in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Salamanca, NY
How long does it take to sell a home in Salamanca, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 70 Days | 87 Days | +24.1% |
Summary: Homes in Salamanca had an average of 87 days on market in Mar 2024, up by 24.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Salamanca are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Salamanca; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
