$1,781 Closing Credit*
$150,000
1,288 SqFt
3 Beds
•2 Full Baths
Scott Hadsell, Listing Office: Crane Realty
Is Phelps, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$232,500
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$52,500(+29.2%)
Key Takeaway
Homes in Phelps have sold for 29.2% more than they did a year ago.
Summary: The median home sold price in Phelps was $232,500 in November 2024, up 29.2% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $190K | N/A |
| 2 Bedrooms | $170.2K | $192.5K | +13.1% |
| 3 Bedrooms | $180K | $235K | +30.6% |
| 4 Bedrooms | $226K | $230K | +1.8% |
| 5+ Bedrooms | $267K | $277.5K | +3.9% |
Summary: Phelps 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 13.1%, 3 bedroom homes increased by 30.6%, 4 bedroom homes increased by 1.8%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The Phelps real estate market had 14 homes for sale in November 2024, a 12.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Phelps 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 66.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Phelps, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Phelps in November 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 18 Days | -32.6% |
Summary: Homes in Phelps had an average of 18 days on market in Nov 2024, down by 32.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was 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 November 2024, 5 homes were sold in Phelps; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
