Is Patterson, 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, Patterson was a Neutral Market.
Key Takeaway
Patterson is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Patterson, NY
How much do homes in Patterson, NY cost?
Median Sold Price
$447,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Patterson have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Patterson was $447,000 in May 2024, up 13.9% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $233.7K | +26.4% |
| 2 Bedrooms | $322K | $350K | +8.7% |
| 3 Bedrooms | $444.7K | $449.5K | +1.1% |
| 4 Bedrooms | $630K | $695K | +10.3% |
| 5+ Bedrooms | $705K | $470K | -33.3% |
Summary: Patterson housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.4%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 33.3%.
Median Sold Price Compared To Nearby Cities
| Sherman | $590K | $675K | +14.4% |
| Patterson | $392.5K | $447K | +13.9% |
| Southeast | $422.5K | $477K | +12.9% |
| Holmes | $433.5K | $474K | +9.3% |
| New Fairfield | $485K | $530K | +9.3% |
Housing Supply in Patterson, NY
How many homes are available in Patterson, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 52 | +23.8% |
Summary: The Patterson real estate market had 52 homes for sale in May 2024, a 23.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 9 | +80.0% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Patterson housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Patterson, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Patterson in May 2024, down by 37.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Patterson, NY
How long does it take to sell a home in Patterson, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 74 Days | 38 Days | -48.8% |
Summary: Homes in Patterson had an average of 38 days on market in May 2024, down by 48.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Patterson has remained consistent over time.
Summary: During May 2024, 5 homes were sold in Patterson; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
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.