Market Report

In May, home prices statewide increased 8.2 percent over the previous year. Simultaneously, there were 12.9 percent fewer properties for sale and 1.3 percent fewer homes sold.

Housing Supply

What is the housing market like right now?

What does this mean?

Indicators of the health of the housing market and whether homes are becoming more or less affordable include the direction and rate at which home prices are changing. Currently, a house in the New York costs $561,700 on average.

Top 10 Metros with the Fastest Growing Sales Price

Blooming Grove, NY – 95.8%
Jamestown, NY – 57.3%
Spring Valley, NY – 48.9%
New Windsor, NY – 43.0%
Lysander, NY – 40.0%
Bayville, NY = 38.8%
Port Washington, NY – 38.4%
Saratoga Springs, NY – 37.7%
Oswego, NY – 36.8%
New City, NY – 35.8%

Housing Market Overview

Are there enough homes for sale to meet buyer demand?

What does this mean?

Buyer options are either expanding or contracting depending on the direction and rate at which home supply changes. They can also show if houses are moving quickly off the market or taking a while to sell. In the New York, there are 50,921 residential properties up for grabs right now.

Housing Demand

How competitive is the market?

What does this mean?

Homes that sold for more than the asking price often had several bids. Bidding wars are more frequent in a competitive housing market, which is indicated by a high or rising percentage of properties selling above list price. The market may be getting less competitive if the percentage of properties selling over list price is low or declining.

Top 10 Most Competitive Cities

Brighton, NY
Chili, NY
Fairport, NY
Henrietta, NY
Irondequoit, NY
Gates, NY
Ballston Spa, NY
Cheektowaga, NY
Riverside, NY
York, NY

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