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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Patterson is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Patterson, NY

How much do homes in Patterson, NY cost?

Median Sold Price

$402,500

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$27,500(-6.4%)

Key Takeaway

Homes in Patterson have sold for 6.4% less than they did a year ago.

Summary: The median home sold price in Patterson was $402,500 in October 2024, down 6.4% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $185K$195K
+5.4%
2 $325K$355K
+9.2%
3 $444.5K$480K
+8.0%
4 $695K$700K
+0.7%
5+ $705K$684.9K
-2.8%

Summary: Patterson housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 2.8%.

Median Sold Price Compared To Nearby Cities

Southeast
+12.0%
Holmes
+10.9%
New Fairfield
+5.8%
Sherman
+5.1%
Patterson
-6.4%

Housing Supply in Patterson, NY

How many homes are available in Patterson, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4654+17.4%

Summary: The Patterson real estate market had 54 homes for sale in October 2024, a 17.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 56
+20.0%
2 1115
+36.4%
3 2021
+5.0%
4 89
+12.5%
5+ 23
+50.0%

Summary: The Patterson housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
514+180.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Patterson, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Patterson in October 2024, up by 180.0% month-over-month. Of the 14 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.

Days on Market for Patterson, NY

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

Average Sale Time

Oct 2023Oct 2024CHANGE
58 Days45 Days-22.9%

Summary: Homes in Patterson had an average of 45 days on market in Oct 2024, down by 22.9% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 14 homes were sold in Patterson; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% 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 16 Days Ago

Newest Listings in Patterson, NY

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