Is Amherst, 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, Amherst has remained a Seller's Market.
Key Takeaway
Amherst is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Amherst, NY
How much do homes in Amherst, NY cost?
Median Sold Price
$330,530
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Amherst have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Amherst was $330,530 in May 2024, up 7.6% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130.5K | $142K | +8.8% |
| 2 Bedrooms | $195K | $215K | +10.3% |
| 3 Bedrooms | $289.6K | $311.2K | +7.5% |
| 4 Bedrooms | $415K | $429.3K | +3.5% |
| 5+ Bedrooms | $492.5K | $499.9K | +1.5% |
Summary: Amherst housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Getzville | $303K | $419.5K | +38.4% |
| Amherst | $307.2K | $330.5K | +7.6% |
| North Tonawanda | $219.9K | $235K | +6.8% |
| East Amherst | $426.2K | $445K | +4.4% |
| Williamsville | $319.5K | $330K | +3.3% |
Housing Supply in Amherst, NY
How many homes are available in Amherst, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 311 | 343 | +10.3% |
Summary: The Amherst real estate market had 343 homes for sale in May 2024, a 10.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 2 | -60.0% |
| 2 Bedrooms | 79 | 66 | -16.5% |
| 3 Bedrooms | 113 | 144 | +27.4% |
| 4 Bedrooms | 84 | 99 | +17.9% |
| 5+ Bedrooms | 30 | 32 | +6.7% |
Summary: The Amherst housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes decreased by 16.5%, 3 bedroom homes increased by 27.4%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 75 | 68 | -9.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Amherst, you could pay more than the asking price. 70.6% of homes here sold above asking price last month.
Summary: A total of 68 homes were sold or pending in Amherst in May 2024, down by 9.3% month-over-month. Of the 68 sold homes, 18% were sold under asking, 12% were sold at asking, and 71% were sold over asking.
Days on Market for Amherst, NY
How long does it take to sell a home in Amherst, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 15 Days | -25.1% |
Summary: Homes in Amherst had an average of 15 days on market in May 2024, down by 25.1% compared to last year.
Breakdown of Home Sale Times
59 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Amherst are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 68 homes were sold in Amherst; 87% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
