Is Herkimer County, 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, Herkimer County has remained a Seller's Market.
Housing Prices in Herkimer County, NY
How much do homes in Herkimer County, NY cost?
Median Sold Price
$155,000
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Herkimer County was $155,000 in May 2024, down 1.8% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $158K | $74.2K | -53.0% |
2 Bedrooms | $129.4K | $145K | +12.0% |
3 Bedrooms | $148.8K | $150.5K | +1.1% |
4 Bedrooms | $195K | $180K | -7.7% |
5+ Bedrooms | $169.9K | $193K | +13.6% |
Summary: Herkimer County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Counties
Hamilton County | $275K | $300K | +9.1% |
Montgomery County | $164K | $176.8K | +7.9% |
Fulton County | $149.5K | $160.3K | +7.2% |
Oneida County | $181.6K | $191.3K | +5.4% |
Herkimer County | $157.7K | $155K | -1.8% |
Housing Supply in Herkimer County, NY
How many homes are available in Herkimer County, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
182 | 197 | +8.2% |
Summary: The Herkimer County real estate market had 197 homes for sale in May 2024, a 8.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 27 | 25 | -7.4% |
3 Bedrooms | 85 | 87 | +2.4% |
4 Bedrooms | 45 | 54 | +20.0% |
5+ Bedrooms | 24 | 28 | +16.7% |
Summary: The Herkimer County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 33 | +50.0% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Herkimer County in May 2024, up by 50.0% month-over-month. Of the 33 sold homes, 61% were sold under asking, 15% were sold at asking, and 24% were sold over asking.
Days on Market for Herkimer County, NY
How long does it take to sell a home in Herkimer County, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
45 Days | 67 Days | +48.8% |
Summary: Homes in Herkimer County had an average of 67 days on market in May 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in Herkimer County; 42% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.