$1,780 Closing Credit*
$149,900
2,073 SqFt
3 Beds
•2 Full Baths, 1 Partial
Myoungjin Joo, Listing Office: Myoungjin Joo
Is Lyell / Otis, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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
$83,860
$57/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$3,860(+4.8%)
Key Takeaway
Homes in Lyell / Otis have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Lyell / Otis was $83,860 in December 2024, up 4.8% from last year, and the median price per square foot was $57.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $10K | N/A |
| 2 Bedrooms | $75K | $62.4K | -16.7% |
| 3 Bedrooms | $96.9K | $99.9K | +3.1% |
| 4 Bedrooms | $73K | $81.3K | +11.5% |
| 5+ Bedrooms | $102K | $80K | -21.6% |
Summary: Lyell / Otis housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 21.6%.
Housing Supply in Lyell / Otis, NY
How many homes are available in Lyell / Otis, NY?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 34 | 29 | -14.7% |
Summary: The Lyell / Otis real estate market had 29 homes for sale in December 2024, a 14.7% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 14 | 9 | -35.7% |
| 4 Bedrooms | 11 | 8 | -27.3% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Lyell / Otis housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 35.7%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lyell / Otis, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Lyell / Otis in December 2024, down by 40.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 11 Days | 22 Days | +95.4% |
Summary: Homes in Lyell / Otis had an average of 22 days on market in Dec 2024, up by 95.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lyell / Otis are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 6 homes were sold in Lyell / Otis; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
