Is Galen, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Galen was a Neutral Market.
Key Takeaway
Galen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Galen, NY
How much do homes in Galen, NY cost?
Median Sold Price
$107,000
$76/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Galen have sold for 25% more than they did a year ago.
Summary: The median home sold price in Galen was $107,000 in April 2024, up 25% from last year, and the median price per square foot was $76.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $25K | $127.5K | +410.0% |
| 2 Bedrooms | $76K | $95K | +25.0% |
| 3 Bedrooms | $86.2K | $127.5K | +47.8% |
| 4 Bedrooms | $112K | $107K | -4.5% |
| 5+ Bedrooms | $115K | $83.7K | -27.2% |
Summary: Galen housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 410%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 47.8%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 27.2%.
Housing Supply in Galen, NY
How many homes are available in Galen, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Summary: The Galen real estate market had 6 homes for sale in April 2024, a 25.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Galen housing inventory by bedroom type for April 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 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Galen, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Galen in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Galen, NY
How long does it take to sell a home in Galen, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 12 Days | -61.4% |
Summary: Homes in Galen had an average of 12 days on market in Apr 2024, down by 61.4% compared to last year.
Breakdown of Home Sale Times
3 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 Galen are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Galen; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
