Is Gorham, 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, Gorham has remained a Seller's Market.
Key Takeaway
Gorham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gorham, NY
How much do homes in Gorham, NY cost?
Median Sold Price
$277,500
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gorham have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Gorham was $277,500 in May 2024, up 7.8% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229.9K | $223.2K | -2.9% |
| 2 Bedrooms | $239.9K | $210K | -12.5% |
| 3 Bedrooms | $342.5K | $285K | -16.8% |
| 4 Bedrooms | $275.5K | $561.2K | +103.7% |
| 5+ Bedrooms | $227.5K | $2.9M | +1192.9% |
Summary: Gorham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 16.8%, 4 bedroom homes increased by 103.7%, and 5+ bedroom homes increased by 1192.9%.
Housing Supply in Gorham, NY
How many homes are available in Gorham, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The Gorham real estate market had 14 homes for sale in May 2024, a 12.5% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 10 | 7 | -30.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Gorham 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 30%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gorham, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Gorham in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Gorham, NY
How long does it take to sell a home in Gorham, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 13 Days | +18.3% |
Summary: Homes in Gorham had an average of 13 days on market in May 2024, up by 18.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gorham are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Gorham; 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.
