$4,155 Closing Credit*
$349,900
1,990 SqFt
3 Beds
•2 Full Baths, 1 Partial
Timothy Ulinger, Listing Office: eXp Realty
Is Elma, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$382,500
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$31,875(+9.1%)
Key Takeaway
Homes in Elma have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Elma was $382,500 in November 2024, up 9.1% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | - | N/A |
| 2 Bedrooms | $253.5K | $315K | +24.3% |
| 3 Bedrooms | $310K | $352K | +13.5% |
| 4 Bedrooms | $512.5K | $464.5K | -9.4% |
| 5+ Bedrooms | $397.5K | $427.5K | +7.5% |
Summary: Elma housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 24.3%, 3 bedroom homes increased by 13.5%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes increased by 7.5%.
Median Sold Price Compared To Nearby Cities
| Elma | $350.6K | $382.5K | +9.1% |
| Aurora | $381.5K | $400K | +4.8% |
Housing Supply in Elma, NY
How many homes are available in Elma, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 42 | -28.8% |
Summary: The Elma real estate market had 42 homes for sale in November 2024, a 28.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 23 | 15 | -34.8% |
| 4 Bedrooms | 24 | 15 | -37.5% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Elma housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 34.8%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 10 | -28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elma, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Elma in November 2024, down by 28.6% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 16 Days | -38.1% |
Summary: Homes in Elma had an average of 16 days on market in Nov 2024, down by 38.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was 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 November 2024, 10 homes were sold in Elma; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
