Is Elba, 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, Elba has remained a Seller's Market.
Key Takeaway
Elba is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elba, NY
How much do homes in Elba, NY cost?
Median Sold Price
$165,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elba have sold for 10.8% less than they did a year ago.
Summary: The median home sold price in Elba was $165,000 in May 2024, down 10.8% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123K | - | N/A |
| 2 Bedrooms | $211.5K | $110K | -48.0% |
| 3 Bedrooms | $187.5K | $209K | +11.5% |
| 4 Bedrooms | $168.5K | - | N/A |
| 5+ Bedrooms | $260K | $145K | -44.2% |
Summary: Elba 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 decreased by 48%, 3 bedroom homes increased by 11.5%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 44.2%.
Housing Supply in Elba, NY
How many homes are available in Elba, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Summary: The Elba real estate market had 4 homes for sale in May 2024, a 20.0% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elba 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 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elba, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Elba in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Elba, NY
How long does it take to sell a home in Elba, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 7 Days | -36.4% |
Summary: Homes in Elba had an average of 7 days on market in May 2024, down by 36.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elba are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Elba; 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.
