Is Schenectady, 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, Schenectady has remained a Seller's Market.
Housing Prices in Schenectady, NY
How much do homes in Schenectady, NY cost?
Median Sold Price
$254,993
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Schenectady was $254,993 in March 2024, up 8.7% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $100K | $159.9K | +59.9% |
2 Bedrooms | $180K | $200K | +11.1% |
3 Bedrooms | $229.9K | $252.3K | +9.8% |
4 Bedrooms | $284.9K | $298.4K | +4.7% |
5+ Bedrooms | $230.1K | $259.9K | +12.9% |
Summary: Schenectady housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 59.9%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
Schenectady | $234.5K | $254.9K | +8.7% |
Niskayuna | $343.2K | $370.5K | +7.9% |
Glenville | $255K | $275K | +7.8% |
Rotterdam | $230K | $245.5K | +6.7% |
Housing Supply in Schenectady, NY
How many homes are available in Schenectady, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
481 | 439 | -8.7% |
Summary: The Schenectady real estate market had 439 homes for sale in March 2024, a 8.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 55 | 56 | +1.8% |
3 Bedrooms | 192 | 167 | -13.0% |
4 Bedrooms | 121 | 123 | +1.7% |
5+ Bedrooms | 110 | 91 | -17.3% |
Summary: The Schenectady housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 1.8%, 3 bedroom homes decreased by 13%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 17.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
93 | 111 | +19.4% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 111 homes were sold or pending in Schenectady in March 2024, up by 19.4% month-over-month. Of the 111 sold homes, 34% were sold under asking, 20% were sold at asking, and 46% were sold over asking.
Days on Market for Schenectady, NY
How long does it take to sell a home in Schenectady, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 30 Days | +8.0% |
Summary: Homes in Schenectady had an average of 30 days on market in Mar 2024, up by 8% compared to last year.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During March 2024, 111 homes were sold in Schenectady; 72% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.