Is Grand Island, 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, Grand Island has remained a Seller's Market.
Key Takeaway
Grand Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grand Island, NY
How much do homes in Grand Island, NY cost?
Median Sold Price
$350,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Grand Island have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Grand Island was $350,000 in April 2024, up 10.4% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $248.2K | $315K | +26.9% |
| 3 Bedrooms | $303.1K | $350K | +15.5% |
| 4 Bedrooms | $375K | $400K | +6.7% |
| 5+ Bedrooms | $565.1K | $291.3K | -48.5% |
Summary: Grand Island 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 26.9%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 48.5%.
Median Sold Price Compared To Nearby Cities
| Tonawanda | $210.2K | $235K | +11.8% |
| Grand Island | $317K | $350K | +10.4% |
| Wheatfield | $320K | $353K | +10.3% |
| North Tonawanda | $221.9K | $231.7K | +4.4% |
| Niagara Falls | $137.8K | $140K | +1.6% |
Housing Supply in Grand Island, NY
How many homes are available in Grand Island, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 58 | -4.9% |
Summary: The Grand Island real estate market had 58 homes for sale in April 2024, a 4.9% decrease 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 | 8 | 5 | -37.5% |
| 3 Bedrooms | 27 | 30 | +11.1% |
| 4 Bedrooms | 23 | 20 | -13.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Grand Island 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 37.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Island, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Grand Island in April 2024, down by 6.3% month-over-month. Of the 15 sold homes, 27% were sold under asking, 13% were sold at asking, and 60% were sold over asking.
Days on Market for Grand Island, NY
How long does it take to sell a home in Grand Island, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 13 Days | 28 Days | +118.2% |
Summary: Homes in Grand Island had an average of 28 days on market in Apr 2024, up by 118.2% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Grand Island are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in Grand Island; 87% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
