Is Palmyra, 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, Palmyra has remained a Seller's Market.
Key Takeaway
Palmyra is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmyra, NY
How much do homes in Palmyra, NY cost?
Median Sold Price
$191,250
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palmyra have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Palmyra was $191,250 in May 2024, up 2.5% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $143.4K | $153.7K | +7.2% |
| 3 Bedrooms | $172K | $185K | +7.6% |
| 4 Bedrooms | $202.5K | $220K | +8.6% |
| 5+ Bedrooms | $300K | $192.5K | -35.8% |
Summary: Palmyra housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 35.8%.
Housing Supply in Palmyra, NY
How many homes are available in Palmyra, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 12 | -42.9% |
Summary: The Palmyra real estate market had 12 homes for sale in May 2024, a 42.9% 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 | 12 | 7 | -41.7% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Palmyra 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 41.7%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 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 Palmyra, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Palmyra in May 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Palmyra, NY
How long does it take to sell a home in Palmyra, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 8 Days | 7 Days | -12.5% |
Summary: Homes in Palmyra had an average of 7 days on market in May 2024, down by 12.5% compared to last year.
Breakdown of Home Sale Times
3 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 Palmyra are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Palmyra; 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.
