Is Orchard Park, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orchard Park is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Orchard Park has remained a Seller's Market.

Key Takeaway

Orchard Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Orchard Park, NY

How much do homes in Orchard Park, NY cost?

Median Sold Price

$413,333

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$24,000(+6.2%)

Key Takeaway

Homes in Orchard Park have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Orchard Park was $413,333 in November 2024, up 6.2% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$285K
N/A
2 $267.5K$269.9K
+0.9%
3 $330K$352.5K
+6.8%
4 $525K$537.5K
+2.4%
5+ $436.2K$525K
+20.4%

Summary: Orchard Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 20.4%.

Housing Supply in Orchard Park, NY

How many homes are available in Orchard Park, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
11683-28.4%

Summary: The Orchard Park real estate market had 83 homes for sale in November 2024, a 28.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1511
-26.7%
3 4027
-32.5%
4 5336
-32.1%
5+ 89
+12.5%

Summary: The Orchard Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 32.5%, 4 bedroom homes decreased by 32.1%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3126-16.1%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orchard Park, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in Orchard Park in November 2024, down by 16.1% month-over-month. Of the 26 sold homes, 42% were sold under asking, 4% were sold at asking, and 54% were sold over asking.

Days on Market for Orchard Park, NY

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

Average Sale Time

Nov 2023Nov 2024CHANGE
15 Days28 Days+85.2%

Summary: Homes in Orchard Park had an average of 28 days on market in Nov 2024, up by 85.2% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 26 homes were sold in Orchard Park; 65% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 4% 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 22 Days Ago

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