$1,899 Closing Credit*
$159,900
924 SqFt
2 Beds
•1 Full Bath, 1 Partial
Patrick J. Hastings, Listing Office: Howard Hanna
Is Riga, 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, Riga has remained a Seller's Market.
Key Takeaway
Riga is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riga, NY
How much do homes in Riga, NY cost?
Median Sold Price
$275,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$38,000(+16.0%)
Key Takeaway
Homes in Riga have sold for 16% more than they did a year ago.
Summary: The median home sold price in Riga was $275,000 in October 2024, up 16% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $154K | $208.5K | +35.4% |
| 3 Bedrooms | $237K | $270K | +13.9% |
| 4 Bedrooms | $275.6K | $300K | +8.8% |
| 5+ Bedrooms | $350K | $400K | +14.3% |
Summary: Riga housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35.4%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Cities
| Wheatland | $175K | $260.7K | +49.0% |
| Riga | $237K | $275K | +16.0% |
| North Chili | $279K | $310K | +11.1% |
| Ogden | $270K | $275K | +1.9% |
| Churchville | $286.3K | $284.2K | -0.7% |
Housing Supply in Riga, NY
How many homes are available in Riga, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -25.0% |
Summary: The Riga real estate market had 9 homes for sale in October 2024, a 25.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 6 | 3 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Riga housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riga, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Riga in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Riga, NY
How long does it take to sell a home in Riga, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 8 Days | -25.0% |
Summary: Homes in Riga had an average of 8 days on market in Oct 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
4 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 Riga are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Riga; 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.
