$9,974 Closing Credit*
$839,900
1,440 SqFt
2 Beds
•2 Full Baths
Mary L. Worth, Listing Office: Howard Hanna Lake Group
Is Penn Yan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Penn Yan was a Seller's Market.
Key Takeaway
Penn Yan is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Penn Yan, NY
How much do homes in Penn Yan, NY cost?
Median Sold Price
$282,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$46,000(+19.5%)
Key Takeaway
Homes in Penn Yan have sold for 19.5% more than they did a year ago.
Summary: The median home sold price in Penn Yan was $282,000 in November 2024, up 19.5% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $177.4K | +54.3% |
| 2 Bedrooms | $169.4K | $191K | +12.7% |
| 3 Bedrooms | $230K | $299.9K | +30.4% |
| 4 Bedrooms | $303.2K | $261.2K | -13.8% |
| 5+ Bedrooms | $379K | $331.7K | -12.5% |
Summary: Penn Yan housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.3%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 30.4%, 4 bedroom homes decreased by 13.8%, and 5+ bedroom homes decreased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Jerusalem | $330K | $455K | +37.9% |
| Penn Yan | $236K | $282K | +19.5% |
| Milo | $235K | $230K | -2.1% |
Housing Supply in Penn Yan, NY
How many homes are available in Penn Yan, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 55 | 41 | -25.5% |
Summary: The Penn Yan real estate market had 41 homes for sale in November 2024, a 25.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 17 | 17 | 0.0% |
| 3 Bedrooms | 24 | 15 | -37.5% |
| 4 Bedrooms | 10 | 5 | -50.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Penn Yan housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 6 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 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. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Penn Yan in November 2024, down by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 12 Days | 29 Days | +134.7% |
Summary: Homes in Penn Yan had an average of 29 days on market in Nov 2024, up by 134.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 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 November 2024, 6 homes were sold in Penn Yan; 50% of homes were sold within 30 days, 50% 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.