Is Lackawanna, 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, Lackawanna has remained a Seller's Market.
Key Takeaway
Lackawanna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lackawanna, NY
How much do homes in Lackawanna, NY cost?
Median Sold Price
$192,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lackawanna have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in Lackawanna was $192,000 in April 2024, up 13.3% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $102.5K | $127.5K | +24.4% |
| 3 Bedrooms | $176.2K | $179.9K | +2.1% |
| 4 Bedrooms | $175K | $215K | +22.9% |
| 5+ Bedrooms | $200K | $202.4K | +1.2% |
Summary: Lackawanna 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 24.4%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Cities
| Lackawanna | $169.5K | $192K | +13.3% |
| West Seneca | $235.2K | $251.5K | +6.9% |
| Buffalo | $224.8K | $229.9K | +2.3% |
Housing Supply in Lackawanna, NY
How many homes are available in Lackawanna, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 38 | 0.0% |
Summary: The Lackawanna real estate market had 38 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 10 | 12 | +20.0% |
Summary: The Lackawanna 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 increased by 200%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lackawanna, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Lackawanna in April 2024, up by 75.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for Lackawanna, NY
How long does it take to sell a home in Lackawanna, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 10 Days | -48.8% |
Summary: Homes in Lackawanna had an average of 10 days on market in Apr 2024, down by 48.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lackawanna are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Lackawanna; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
