Is Solvay, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Solvay was a Buyer's Market.
Key Takeaway
Solvay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Solvay, NY
How much do homes in Solvay, NY cost?
Median Sold Price
$180,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Solvay have sold for 33.3% more than they did a year ago.
Summary: The median home sold price in Solvay was $180,000 in May 2024, up 33.3% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $136K | $166K | +22.1% |
| 3 Bedrooms | $133.3K | $180K | +35.0% |
| 4 Bedrooms | $168.5K | $193.7K | +15.0% |
| 5+ Bedrooms | $120K | $167.5K | +39.6% |
Summary: Solvay housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.1%, 3 bedroom homes increased by 35%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 39.6%.
Housing Supply in Solvay, NY
How many homes are available in Solvay, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 16 | -11.1% |
Summary: The Solvay real estate market had 16 homes for sale in May 2024, a 11.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Solvay housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 60%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Solvay, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Solvay in May 2024, down by 28.6% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Solvay, NY
How long does it take to sell a home in Solvay, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 11 Days | -19.1% |
Summary: Homes in Solvay had an average of 11 days on market in May 2024, down by 19.1% compared to last year.
Breakdown of Home Sale Times
5 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 Solvay are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Solvay; 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.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.