Is Hamburg, 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, Hamburg has remained a Seller's Market.
Key Takeaway
Hamburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hamburg, NY
How much do homes in Hamburg, NY cost?
Median Sold Price
$302,667
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hamburg have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Hamburg was $302,667 in May 2024, up 8.1% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $121.5K | -28.5% |
| 2 Bedrooms | $215K | $235K | +9.3% |
| 3 Bedrooms | $265.5K | $288.8K | +8.8% |
| 4 Bedrooms | $355.5K | $382.5K | +7.6% |
| 5+ Bedrooms | $351.2K | $388K | +10.5% |
Summary: Hamburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.5%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 10.5%.
Housing Supply in Hamburg, NY
How many homes are available in Hamburg, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 118 | 120 | +1.7% |
Summary: The Hamburg real estate market had 120 homes for sale in May 2024, a 1.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 59 | 55 | -6.8% |
| 4 Bedrooms | 33 | 37 | +12.1% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Hamburg 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 increased by 5.9%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 30 | +15.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hamburg, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Hamburg in May 2024, up by 15.4% month-over-month. Of the 30 sold homes, 30% were sold under asking, 3% were sold at asking, and 67% were sold over asking.
Days on Market for Hamburg, NY
How long does it take to sell a home in Hamburg, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 30 Days | +34.9% |
Summary: Homes in Hamburg had an average of 30 days on market in May 2024, up by 34.9% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hamburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 30 homes were sold in Hamburg; 93% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
