Is Derby, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Derby has remained a Seller's Market.
Key Takeaway
Derby is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Derby, NY
How much do homes in Derby, NY cost?
Median Sold Price
$218,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Derby have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Derby was $218,000 in May 2024, up 8.7% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $150K | $226.4K | +51.0% |
| 3 Bedrooms | $200.5K | $215K | +7.2% |
| 4 Bedrooms | $255K | $250K | -2.0% |
| 5+ Bedrooms | $140.5K | $204.3K | +45.4% |
Summary: Derby housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 51%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 45.4%.
Median Sold Price Compared To Nearby Cities
| Lake View | $285K | $315K | +10.5% |
| Derby | $200.5K | $218K | +8.7% |
| Evans | $189K | $203.2K | +7.5% |
| Eden | $267.4K | $274.9K | +2.8% |
Housing Supply in Derby, NY
How many homes are available in Derby, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 23 | -8.0% |
Summary: The Derby real estate market had 23 homes for sale in May 2024, a 8.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 15 | 13 | -13.3% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Derby housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Derby, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Derby in May 2024, up by 100.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.
Days on Market for Derby, NY
How long does it take to sell a home in Derby, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 22 Days | +145.5% |
Summary: Homes in Derby had an average of 22 days on market in May 2024, up by 145.5% compared to last year.
Breakdown of Home Sale Times
6 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 Derby are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Derby; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
