Is Penfield, 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, Penfield has remained a Seller's Market.
Key Takeaway
Penfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Penfield, NY
How much do homes in Penfield, NY cost?
Median Sold Price
$351,444
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Penfield have sold for 9% more than they did a year ago.
Summary: The median home sold price in Penfield was $351,444 in May 2024, up 9% 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 | $73.5K | - | N/A |
| 2 Bedrooms | $225K | $243K | +8.0% |
| 3 Bedrooms | $285K | $312K | +9.5% |
| 4 Bedrooms | $390K | $410K | +5.1% |
| 5+ Bedrooms | $500K | $505K | +1.0% |
Summary: Penfield 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 8%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Cities
| Brighton | $275K | $327.7K | +19.2% |
| Irondequoit | $190K | $223.4K | +17.6% |
| Webster | $311K | $345K | +10.9% |
| Penfield | $322.5K | $351.4K | +9.0% |
| Walworth | $262K | $280K | +6.9% |
Housing Supply in Penfield, NY
How many homes are available in Penfield, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 85 | 86 | +1.2% |
Summary: The Penfield real estate market had 86 homes for sale in May 2024, a 1.2% 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 | 11 | 12 | +9.1% |
| 3 Bedrooms | 26 | 34 | +30.8% |
| 4 Bedrooms | 33 | 26 | -21.2% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Penfield 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 9.1%, 3 bedroom homes increased by 30.8%, 4 bedroom homes decreased by 21.2%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 16 | -46.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penfield, you could pay more than the asking price. 81.3% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Penfield in May 2024, down by 46.7% month-over-month. Of the 16 sold homes, 13% were sold under asking, 6% were sold at asking, and 81% were sold over asking.
Days on Market for Penfield, NY
How long does it take to sell a home in Penfield, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 7 Days | -45.3% |
Summary: Homes in Penfield had an average of 7 days on market in May 2024, down by 45.3% compared to last year.
Breakdown of Home Sale Times
16 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 Penfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Penfield; 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.
