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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tappan is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Tappan was a Seller's Market.

Key Takeaway

Tappan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Tappan, NY

How much do homes in Tappan, NY cost?

Median Sold Price

$650,000

$343/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$35,000(+5.7%)

Key Takeaway

Homes in Tappan have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Tappan was $650,000 in September 2024, up 5.7% from last year, and the median price per square foot was $343.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $559K$450K
-19.5%
3 $550K$632K
+14.9%
4 $650.8K$650K
-0.1%
5+ $712.5K$810K
+13.7%

Summary: Tappan housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.5%, 3 bedroom homes increased by 14.9%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 13.7%.

Median Sold Price Compared To Nearby Cities

Tappan
+5.7%
Orangeburg
+5.0%

Housing Supply in Tappan, NY

How many homes are available in Tappan, NY?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
2016-20.0%

Summary: The Tappan real estate market had 16 homes for sale in September 2024, a 20.0% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 00
0.0%
3 55
0.0%
4 1210
-16.7%
5+ 31
-66.7%

Summary: The Tappan housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
72-71.4%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tappan, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Tappan in September 2024, down by 71.4% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for Tappan, NY

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

Average Sale Time

Sep 2023Sep 2024CHANGE
32 Days43 Days+35.2%

Summary: Homes in Tappan had an average of 43 days on market in Sep 2024, up by 35.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 2 homes were sold in Tappan; 50% of homes were sold within 30 days, 50% 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 30 Days Ago

Newest Listings in Tappan, NY

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