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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lorraine is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Lorraine has remained a Buyer's Market.

Key Takeaway

Lorraine is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lorraine, NY

How much do homes in Lorraine, NY cost?

Median Sold Price

$126,500

$75/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

-$38,500(-23.3%)

Key Takeaway

Homes in Lorraine have sold for 23.3% less than they did a month ago.

Summary: The median home sold price in Lorraine was $126,500 in September 2024, down 23.3% from last month, and the median price per square foot was $75.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 -$10K
N/A
3 -$243K
N/A
4 $165K-
N/A
5+ --
N/A

Summary: Lorraine housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lorraine
-23.3%
Rodman
-73.2%

Housing Supply in Lorraine, NY

How many homes are available in Lorraine, NY?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1617+6.3%

Summary: The Lorraine real estate market had 17 homes for sale in September 2024, a 6.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 33
0.0%
2 33
0.0%
3 57
+40.0%
4 42
-50.0%
5+ 12
+100.0%

Summary: The Lorraine housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lorraine, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in Lorraine in September 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Lorraine, NY

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

Average Sale Time

Aug 2024Sep 2024CHANGE
6 Days113 Days+1783.3%

Summary: Homes in Lorraine had an average of 113 days on market in Sep 2024, up by 1783.3% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 2 homes were sold in Lorraine; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 30 Days Ago

Newest Listings in Lorraine, NY

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