Is Depew, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Depew was a Buyer's Market.
Key Takeaway
Depew is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Depew, NY
How much do homes in Depew, NY cost?
Median Sold Price
$240,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Depew have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Depew was $240,000 in April 2024, up 6.7% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $115K | N/A |
| 2 Bedrooms | $213K | $242.5K | +13.8% |
| 3 Bedrooms | $225K | $230K | +2.2% |
| 4 Bedrooms | $250K | $250K | 0.0% |
| 5+ Bedrooms | $370.5K | $260K | -29.8% |
Summary: Depew 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 13.8%, 3 bedroom homes increased by 2.2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 29.8%.
Median Sold Price Compared To Nearby Cities
| Cheektowaga | $200.6K | $219.9K | +9.7% |
| Depew | $224.9K | $240K | +6.7% |
| Lancaster | $308.6K | $320.3K | +3.8% |
Housing Supply in Depew, NY
How many homes are available in Depew, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 54 | +1.9% |
Summary: The Depew real estate market had 54 homes for sale in April 2024, a 1.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 7 | -30.0% |
| 3 Bedrooms | 29 | 31 | +6.9% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Depew housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 30%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 18 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Depew, you could pay more than the asking price. 88.9% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Depew in April 2024, up by 50.0% month-over-month. Of the 18 sold homes, 11% were sold under asking, 0% were sold at asking, and 89% were sold over asking.
Days on Market for Depew, NY
How long does it take to sell a home in Depew, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 27 Days | 0.2% |
Summary: Homes in Depew had an average of 27 days on market in Apr 2024, up by 0.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Depew are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in Depew; 89% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
