$3,514 Closing Credit*
$295,900
2,092 SqFt
3 Beds
•2 Full Baths
Jack B. Howell, Listing Office: Howell Properties, LLC
Is Phelps, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Phelps has remained a Seller's Market.
Key Takeaway
Phelps is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Phelps, NY
How much do homes in Phelps, NY cost?
Median Sold Price
$235,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$55,000(+30.6%)
Key Takeaway
Homes in Phelps have sold for 30.6% more than they did a year ago.
Summary: The median home sold price in Phelps was $235,000 in December 2024, up 30.6% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $190K | N/A |
| 2 Bedrooms | $160K | $240K | +50.0% |
| 3 Bedrooms | $180K | $232.5K | +29.2% |
| 4 Bedrooms | $226K | $240K | +6.2% |
| 5+ Bedrooms | $267K | $277.5K | +3.9% |
Summary: Phelps housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 3.9%.
Housing Supply in Phelps, NY
How many homes are available in Phelps, NY?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Summary: The Phelps real estate market had 8 homes for sale in December 2024, a 46.7% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 4 | 1 | -75.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Phelps housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Phelps, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Phelps in December 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Phelps, NY
How long does it take to sell a home in Phelps, NY?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 10 Days | 14 Days | +36.5% |
Summary: Homes in Phelps had an average of 14 days on market in Dec 2024, up by 36.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Phelps are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 3 homes were sold in Phelps; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
