$3,438 Closing Credit*
$289,500
1,536 SqFt
4 Beds
•2 Full Baths
Adele L Cloutier, Listing Office: Danahy Real Estate
Is Newfane, 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, Newfane has remained a Seller's Market.
Key Takeaway
Newfane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newfane, NY
How much do homes in Newfane, NY cost?
Median Sold Price
$232,500
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+4.5%)
Key Takeaway
Homes in Newfane have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Newfane was $232,500 in October 2024, up 4.5% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | - | N/A |
| 2 Bedrooms | $159K | $160K | +0.6% |
| 3 Bedrooms | $252.5K | $239.9K | -5.0% |
| 4 Bedrooms | $220K | $236K | +7.3% |
| 5+ Bedrooms | $211K | $251K | +19.0% |
Summary: Newfane 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 increased by 0.6%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 19%.
Median Sold Price Compared To Nearby Cities
| Gasport | $217K | $272.5K | +25.6% |
| Burt | $247.5K | $279.9K | +13.1% |
| Newfane | $222.5K | $232.5K | +4.5% |
Housing Supply in Newfane, NY
How many homes are available in Newfane, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 35 | +2.9% |
Summary: The Newfane real estate market had 35 homes for sale in October 2024, a 2.9% increase 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 15 | 12 | -20.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Newfane 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 increased by 25%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newfane, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Newfane in October 2024, up by 66.7% month-over-month. Of the 10 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% were sold over asking.
Days on Market for Newfane, NY
How long does it take to sell a home in Newfane, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 31 Days | +124.8% |
Summary: Homes in Newfane had an average of 31 days on market in Oct 2024, up by 124.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Newfane are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Newfane; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
