Is South Wales, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, South Wales has remained a Seller's Market.
Key Takeaway
South Wales is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Wales, NY
How much do homes in South Wales, NY cost?
Median Sold Price
$475,000
$226/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in South Wales have sold for 9.5% less than they did a month ago.
Summary: The median home sold price in South Wales was $475,000 in May 2024, down 9.5% from last month, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $310K | N/A |
| 3 Bedrooms | $475K | $685K | +44.2% |
| 4 Bedrooms | $575K | $345K | -40.0% |
| 5+ Bedrooms | - | $489K | N/A |
Summary: South Wales housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 44.2%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| South Wales | $525K | $475K | -9.5% |
| Wales | $575K | $475K | -17.4% |
Housing Supply in South Wales, NY
How many homes are available in South Wales, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Summary: The South Wales real estate market had 11 homes for sale in May 2024, a 10.0% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South Wales 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
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 South Wales, 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 South Wales in May 2024, up by 150.0% 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 South Wales, NY
How long does it take to sell a home in South Wales, NY?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 204 Days | 13 Days | -93.5% |
Summary: Homes in South Wales had an average of 13 days on market in May 2024, down by 93.5% compared to last month.
Breakdown of Home Sale Times
4 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 South Wales are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in South Wales; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
