Is Cheektowaga, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cheektowaga has remained a Seller's Market.
Key Takeaway
Cheektowaga is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cheektowaga, NY
How much do homes in Cheektowaga, NY cost?
Median Sold Price
$219,973
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cheektowaga have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Cheektowaga was $219,973 in April 2024, up 9.7% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $170K | $188K | +10.6% |
| 3 Bedrooms | $205K | $220K | +7.3% |
| 4 Bedrooms | $211K | $220K | +4.3% |
| 5+ Bedrooms | $250K | $250K | 0.0% |
Summary: Cheektowaga housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cheektowaga | $200.6K | $219.9K | +9.7% |
| West Seneca | $235.2K | $251.5K | +6.9% |
| Depew | $224.9K | $240K | +6.7% |
| Sloan | $170K | $174.9K | +2.9% |
| Buffalo | $224.8K | $229.9K | +2.3% |
Housing Supply in Cheektowaga, NY
How many homes are available in Cheektowaga, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 229 | 228 | -0.4% |
Summary: The Cheektowaga real estate market had 228 homes for sale in April 2024, a 0.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 26 | 28 | +7.7% |
| 3 Bedrooms | 122 | 126 | +3.3% |
| 4 Bedrooms | 43 | 45 | +4.7% |
| 5+ Bedrooms | 37 | 27 | -27.0% |
Summary: The Cheektowaga housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 27%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 67 | 51 | -23.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheektowaga, you could pay more than the asking price. 76.5% of homes here sold above asking price last month.
Summary: A total of 51 homes were sold or pending in Cheektowaga in April 2024, down by 23.9% month-over-month. Of the 51 sold homes, 22% were sold under asking, 2% were sold at asking, and 76% were sold over asking.
Days on Market for Cheektowaga, NY
How long does it take to sell a home in Cheektowaga, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 18 Days | +4.0% |
Summary: Homes in Cheektowaga had an average of 18 days on market in Apr 2024, up by 4% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheektowaga are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 51 homes were sold in Cheektowaga; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
