Is Fayette, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fayette is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Fayette has remained a Seller's Market.

Key Takeaway

Fayette is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Fayette, NY

How much do homes in Fayette, NY cost?

Median Sold Price

$184,900

$123/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$25,100(-12.0%)

Key Takeaway

Homes in Fayette have sold for 12% less than they did a year ago.

Summary: The median home sold price in Fayette was $184,900 in October 2024, down 12% from last year, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $293.3K$307.5K
+4.8%
2 $160K$420K
+162.5%
3 $272.5K$173K
-36.5%
4 $210K$260K
+23.8%
5+ $175K$90K
-48.6%

Summary: Fayette housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 162.5%, 3 bedroom homes decreased by 36.5%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes decreased by 48.6%.

Median Sold Price Compared To Nearby Cities

Geneva
+11.2%
Waterloo
+0.7%
Fayette
-12.0%

Housing Supply in Fayette, NY

How many homes are available in Fayette, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
98-11.1%

Summary: The Fayette real estate market had 8 homes for sale in October 2024, a 11.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 65
-16.7%
4 23
+50.0%
5+ 00
0.0%

Summary: The Fayette 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 decreased by 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fayette, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Fayette in October 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Fayette, NY

How long does it take to sell a home in Fayette, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
4 Days7 Days+50.0%

Summary: Homes in Fayette had an average of 7 days on market in Oct 2024, up by 50% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fayette are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in Fayette; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Fayette, NY

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