Is West Seneca, 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, West Seneca has remained a Seller's Market.
Key Takeaway
West Seneca is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Seneca, NY
How much do homes in West Seneca, NY cost?
Median Sold Price
$251,100
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Seneca have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in West Seneca was $251,100 in May 2024, up 6.2% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $95K | N/A |
| 2 Bedrooms | $168K | $185K | +10.1% |
| 3 Bedrooms | $235.4K | $260K | +10.4% |
| 4 Bedrooms | $290K | $257.7K | -11.1% |
| 5+ Bedrooms | $230K | $298.7K | +29.9% |
Summary: West Seneca 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 10.1%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 29.9%.
Median Sold Price Compared To Nearby Cities
| Lackawanna | $167K | $194K | +16.2% |
| Cheektowaga | $200.8K | $220K | +9.5% |
| West Seneca | $236.4K | $251.1K | +6.2% |
| Buffalo | $224.8K | $229.9K | +2.3% |
| Elma | $372.5K | $375K | +0.7% |
Housing Supply in West Seneca, NY
How many homes are available in West Seneca, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 109 | 111 | +1.8% |
Summary: The West Seneca real estate market had 111 homes for sale in May 2024, a 1.8% 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 | 20 | 22 | +10.0% |
| 3 Bedrooms | 55 | 58 | +5.5% |
| 4 Bedrooms | 28 | 25 | -10.7% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The West Seneca 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 10%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Seneca, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in West Seneca in May 2024, up by 4.8% month-over-month. Of the 22 sold homes, 23% were sold under asking, 5% were sold at asking, and 73% were sold over asking.
Days on Market for West Seneca, NY
How long does it take to sell a home in West Seneca, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 18 Days | +36.0% |
Summary: Homes in West Seneca had an average of 18 days on market in May 2024, up by 36% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Seneca are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in West Seneca; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
