Is Herkimer, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Herkimer was a Seller's Market.
Key Takeaway
Herkimer is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Herkimer, NY
How much do homes in Herkimer, NY cost?
Median Sold Price
$133,148
$84/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Herkimer have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Herkimer was $133,148 in May 2024, up 9.1% from last year, and the median price per square foot was $84.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $17K | - | N/A |
| 2 Bedrooms | $118.7K | $147.2K | +24.0% |
| 3 Bedrooms | $111.5K | $140K | +25.6% |
| 4 Bedrooms | $156K | $114K | -26.9% |
| 5+ Bedrooms | $91.4K | $125K | +36.8% |
Summary: Herkimer 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 24%, 3 bedroom homes increased by 25.6%, 4 bedroom homes decreased by 26.9%, and 5+ bedroom homes increased by 36.8%.
Median Sold Price Compared To Nearby Cities
| German Flatts | $127K | $139.9K | +10.2% |
| Herkimer | $122K | $133.1K | +9.1% |
Housing Supply in Herkimer, NY
How many homes are available in Herkimer, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 32 | 0.0% |
Summary: The Herkimer real estate market had 32 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Herkimer 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 increased by 25%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Herkimer, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Herkimer in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Herkimer, NY
How long does it take to sell a home in Herkimer, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 73 Days | +154.9% |
Summary: Homes in Herkimer had an average of 73 days on market in May 2024, up by 154.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Herkimer has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Herkimer; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.