Is Penn Yan, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Penn Yan has remained a Seller's Market.
Housing Prices in Penn Yan, NY
How much do homes in Penn Yan, NY cost?
Median Sold Price
$227,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Penn Yan was $227,000 in April 2024, up 5.6% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $161.9K | +40.8% |
2 Bedrooms | $167.4K | $170K | +1.5% |
3 Bedrooms | $215K | $238K | +10.7% |
4 Bedrooms | $225K | $303.2K | +34.8% |
5+ Bedrooms | $1.0M | $350K | -66.6% |
Summary: Penn Yan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.8%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes decreased by 66.6%.
Median Sold Price Compared To Nearby Cities
Jerusalem | $244K | $360K | +47.5% |
Milo | $180K | $202.9K | +12.8% |
Penn Yan | $215K | $227K | +5.6% |
Housing Supply in Penn Yan, NY
How many homes are available in Penn Yan, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
26 | 19 | -26.9% |
Summary: The Penn Yan real estate market had 19 homes for sale in April 2024, a 26.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 7 | 6 | -14.3% |
3 Bedrooms | 14 | 10 | -28.6% |
4 Bedrooms | 1 | 0 | -100.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Penn Yan housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 4 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Penn Yan in April 2024, down by 50.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Penn Yan, NY
How long does it take to sell a home in Penn Yan, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 29 Days | +333.8% |
Summary: Homes in Penn Yan had an average of 29 days on market in Apr 2024, up by 333.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in Penn Yan; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.