Is Mexico, 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, Mexico has remained a Seller's Market.
Key Takeaway
Mexico is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mexico, NY
How much do homes in Mexico, NY cost?
Median Sold Price
$176,500
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mexico have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in Mexico was $176,500 in May 2024, down 1.9% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | $95K | -9.5% |
| 2 Bedrooms | $101.5K | $154.6K | +52.3% |
| 3 Bedrooms | $174.5K | $170K | -2.6% |
| 4 Bedrooms | $200K | $265K | +32.5% |
| 5+ Bedrooms | $417.5K | $178K | -57.4% |
Summary: Mexico housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.5%, 2 bedroom homes increased by 52.3%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes decreased by 57.4%.
Housing Supply in Mexico, NY
How many homes are available in Mexico, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 11 | -21.4% |
Summary: The Mexico real estate market had 11 homes for sale in May 2024, a 21.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 4 | 1 | -75.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Mexico housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 75%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mexico, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Mexico in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Mexico, NY
How long does it take to sell a home in Mexico, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 42 Days | -30.7% |
Summary: Homes in Mexico had an average of 42 days on market in May 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mexico are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Mexico; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
