$6,233 Closing Credit*
$524,900
2,846 SqFt
5 Beds
•3 Full Baths, 1 Partial
Donna A Pease, Listing Office: Howard Hanna WNY Inc.
Is Elma, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Elma has remained a Seller's Market.
Key Takeaway
Elma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elma, NY
How much do homes in Elma, NY cost?
Median Sold Price
$375,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,875(+6.2%)
Key Takeaway
Homes in Elma have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Elma was $375,000 in October 2024, up 6.2% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | - | N/A |
| 2 Bedrooms | $253.5K | $331K | +30.6% |
| 3 Bedrooms | $325K | $350K | +7.7% |
| 4 Bedrooms | $500K | $455K | -9.0% |
| 5+ Bedrooms | $425K | $388.7K | -8.5% |
Summary: Elma housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.6%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Elma | $353.1K | $375K | +6.2% |
| Aurora | $388.7K | $392K | +0.8% |
| Marilla | $340K | $322.9K | -5.0% |
Housing Supply in Elma, NY
How many homes are available in Elma, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 57 | 53 | -7.0% |
Summary: The Elma real estate market had 53 homes for sale in October 2024, a 7.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 27 | 22 | -18.5% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Elma housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 18.5%, 4 bedroom homes increased by 5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 14 | +55.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elma, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Elma in October 2024, up by 55.6% month-over-month. Of the 14 sold homes, 29% were sold under asking, 7% were sold at asking, and 64% were sold over asking.
Days on Market for Elma, NY
How long does it take to sell a home in Elma, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 16 Days | -8.9% |
Summary: Homes in Elma had an average of 16 days on market in Oct 2024, down by 8.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elma are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in Elma; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
