$8,776 Closing Credit*
$739,000
3,797 SqFt
3 Beds
•2 Full Baths, 1 Partial
Carol Klein, Listing Office: HUNT Real Estate Corporation
Is Grand Island, 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, 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
$360,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$29,750(+9.0%)
Key Takeaway
Homes in Grand Island have sold for 9% more than they did a year ago.
Summary: The median home sold price in Grand Island was $360,000 in October 2024, up 9% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $240K | -23.8% |
| 3 Bedrooms | $315.1K | $333.5K | +5.8% |
| 4 Bedrooms | $393.5K | $423K | +7.5% |
| 5+ Bedrooms | $365K | $407.5K | +11.6% |
Summary: Grand Island 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 decreased by 23.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
| Wheatfield | $334K | $385K | +15.3% |
| Niagara Falls | $137.2K | $152.6K | +11.2% |
| Grand Island | $330.2K | $360K | +9.0% |
| North Tonawanda | $230K | $245.5K | +6.7% |
| Tonawanda | $227.7K | $238K | +4.5% |
Housing Supply in Grand Island, NY
How many homes are available in Grand Island, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 | 70 | -11.4% |
Summary: The Grand Island real estate market had 70 homes for sale in October 2024, a 11.4% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 38 | 32 | -15.8% |
| 4 Bedrooms | 32 | 27 | -15.6% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Grand Island 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 15.8%, 4 bedroom homes decreased by 15.6%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 18 | -14.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Island, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Grand Island in October 2024, down by 14.3% month-over-month. Of the 18 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 14 Days | -9.0% |
Summary: Homes in Grand Island had an average of 14 days on market in Oct 2024, down by 9% compared to last year.
Breakdown of Home Sale Times
15 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 Grand Island are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in Grand Island; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
