$4,986 Closing Credit*
$419,900
1,045 SqFt
2 Beds
•2 Full Baths
Mark Moon, Listing Office: Howard Hanna Lake Group Hammondsport
Is Penn Yan, 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, Penn Yan has remained a Seller's Market.
Key Takeaway
Penn Yan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Penn Yan, NY
How much do homes in Penn Yan, NY cost?
Median Sold Price
$282,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$57,000(+25.3%)
Key Takeaway
Homes in Penn Yan have sold for 25.3% more than they did a year ago.
Summary: The median home sold price in Penn Yan was $282,000 in October 2024, up 25.3% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $177.4K | +54.3% |
| 2 Bedrooms | $166.5K | $182.5K | +9.6% |
| 3 Bedrooms | $212K | $300K | +41.5% |
| 4 Bedrooms | $265.2K | $265K | -0.1% |
| 5+ Bedrooms | $379K | $296.7K | -21.7% |
Summary: Penn Yan housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.3%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 41.5%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 21.7%.
Median Sold Price Compared To Nearby Cities
| Jerusalem | $297.2K | $435K | +46.3% |
| Benton | $169.9K | $230K | +35.4% |
| Penn Yan | $225K | $282K | +25.3% |
| Milo | $212K | $232.5K | +9.7% |
Housing Supply in Penn Yan, NY
How many homes are available in Penn Yan, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 57 | 54 | -5.3% |
Summary: The Penn Yan real estate market had 54 homes for sale in October 2024, a 5.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 19 | 15 | -21.1% |
| 3 Bedrooms | 23 | 24 | +4.3% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Penn Yan housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
5 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 Penn Yan, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Penn Yan in October 2024, the same as the previous month. Of the 12 sold homes, 42% were sold under asking, 25% were sold at asking, and 33% were sold over asking.
Days on Market for Penn Yan, NY
How long does it take to sell a home in Penn Yan, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 19 Days | -0.1% |
Summary: Homes in Penn Yan had an average of 19 days on market in Oct 2024, down by 0.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Penn Yan are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Penn Yan; 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.
IDX Disclaimer/Disclosure: The data on this website relating to real estate for sale comes in part from the IDX Program of the Multiple Listing Service of the Elmira-Corning Regional Association of REALTORS®, Inc.