Is Newfane, 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, Newfane has remained a Seller's Market.
Key Takeaway
Newfane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newfane, NY
How much do homes in Newfane, NY cost?
Median Sold Price
$230,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newfane have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Newfane was $230,000 in May 2024, up 13.6% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | - | N/A |
| 2 Bedrooms | $153.2K | $158K | +3.1% |
| 3 Bedrooms | $208.5K | $245.5K | +17.7% |
| 4 Bedrooms | $220K | $218K | -0.9% |
| 5+ Bedrooms | $355K | $146K | -58.9% |
Summary: Newfane 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 3.1%, 3 bedroom homes increased by 17.7%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes decreased by 58.9%.
Median Sold Price Compared To Nearby Cities
| Gasport | $192.5K | $263K | +36.6% |
| Newfane | $202.5K | $230K | +13.6% |
Housing Supply in Newfane, NY
How many homes are available in Newfane, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Summary: The Newfane real estate market had 21 homes for sale in May 2024, a 4.5% 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Newfane 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 20%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 14.3%, 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
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Newfane, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Newfane in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Newfane, NY
How long does it take to sell a home in Newfane, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 16 Days | -30.1% |
Summary: Homes in Newfane had an average of 16 days on market in May 2024, down by 30.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newfane are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Newfane; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
