$226 Closing Credit*
$19,000
1,456 SqFt
3 Beds
•2 Full Baths
Wesley Juliano, Listing Office: Howard Hanna
Is Lyell / Otis, 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, Lyell / Otis has remained a Seller's Market.
Key Takeaway
Lyell / Otis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lyell / Otis, NY
How much do homes in Lyell / Otis, NY cost?
Median Sold Price
$80,400
$54/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$400(+0.5%)
Key Takeaway
The sold price of homes in Lyell / Otis has remained the same since last year.
Summary: The median home sold price in Lyell / Otis was $80,400 in October 2024, up 0.5% from last year, and the median price per square foot was $54.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $10K | N/A |
| 2 Bedrooms | $65K | $62.4K | -3.9% |
| 3 Bedrooms | $80K | $99.9K | +24.9% |
| 4 Bedrooms | $74K | $77.5K | +4.7% |
| 5+ Bedrooms | $102K | $90K | -11.8% |
Summary: Lyell / Otis 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 3.9%, 3 bedroom homes increased by 24.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 11.8%.
Housing Supply in Lyell / Otis, NY
How many homes are available in Lyell / Otis, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 | 35 | -23.9% |
Summary: The Lyell / Otis real estate market had 35 homes for sale in October 2024, a 23.9% 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 | 9 | 6 | -33.3% |
| 3 Bedrooms | 17 | 10 | -41.2% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Lyell / Otis 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 33.3%, 3 bedroom homes decreased by 41.2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lyell / Otis, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Lyell / Otis in October 2024, down by 20.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lyell / Otis, NY
How long does it take to sell a home in Lyell / Otis, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 36 Days | +41.2% |
Summary: Homes in Lyell / Otis had an average of 36 days on market in Oct 2024, up by 41.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lyell / Otis are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Lyell / Otis; 50% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
