$4,036 Closing Credit*
$339,900
1,535 SqFt
3 Beds
•2 Full Baths
Robert E Rentz, Listing Office: WNY Metro Roberts Realty
Is Grand Island, 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, Grand Island has remained a Seller's Market.
Key Takeaway
Grand Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grand Island, NY
How much do homes in Grand Island, NY cost?
Median Sold Price
$372,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$39,250(+11.8%)
Key Takeaway
Homes in Grand Island have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in Grand Island was $372,000 in November 2024, up 11.8% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $230K | -27.0% |
| 3 Bedrooms | $324.4K | $337K | +3.9% |
| 4 Bedrooms | $404.2K | $430K | +6.4% |
| 5+ Bedrooms | $292.6K | $423.7K | +44.8% |
Summary: Grand Island 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 decreased by 27%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 44.8%.
Median Sold Price Compared To Nearby Cities
| Wheatfield | $331.4K | $390K | +17.7% |
| Grand Island | $332.7K | $372K | +11.8% |
| Niagara Falls | $137.8K | $152.7K | +10.8% |
| North Tonawanda | $230K | $245K | +6.5% |
| Tonawanda | $227K | $237.7K | +4.7% |
Housing Supply in Grand Island, NY
How many homes are available in Grand Island, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 81 | 62 | -23.5% |
Summary: The Grand Island real estate market had 62 homes for sale in November 2024, a 23.5% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 38 | 23 | -39.5% |
| 4 Bedrooms | 33 | 27 | -18.2% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Grand Island 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 25%, 3 bedroom homes decreased by 39.5%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 16 | -23.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Island, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Grand Island in November 2024, down by 23.8% month-over-month. Of the 16 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Grand Island, NY
How long does it take to sell a home in Grand Island, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 28 Days | +85.3% |
Summary: Homes in Grand Island had an average of 28 days on market in Nov 2024, up by 85.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Grand Island are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 16 homes were sold in Grand Island; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
