Is Cheektowaga, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cheektowaga has remained a Seller's Market.
Housing Prices in Cheektowaga, NY
How much do homes in Cheektowaga, NY cost?
Median Sold Price
$220,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cheektowaga was $220,000 in May 2024, up 9.5% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $170K | N/A |
2 Bedrooms | $171.5K | $185K | +7.8% |
3 Bedrooms | $205K | $220K | +7.3% |
4 Bedrooms | $215K | $220K | +2.3% |
5+ Bedrooms | $250K | $250K | 0.0% |
Summary: Cheektowaga 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 7.8%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Cheektowaga | $200.8K | $220K | +9.5% |
Depew | $224.9K | $241K | +7.2% |
West Seneca | $236.4K | $251.1K | +6.2% |
Sloan | $171K | $175K | +2.3% |
Buffalo | $224.8K | $229.9K | +2.3% |
Housing Supply in Cheektowaga, NY
How many homes are available in Cheektowaga, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
271 | 273 | +0.7% |
Summary: The Cheektowaga real estate market had 273 homes for sale in May 2024, a 0.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 34 | 32 | -5.9% |
3 Bedrooms | 152 | 155 | +2.0% |
4 Bedrooms | 49 | 48 | -2.0% |
5+ Bedrooms | 34 | 36 | +5.9% |
Summary: The Cheektowaga 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 5.9%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 61 | +1.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Cheektowaga in May 2024, up by 1.7% month-over-month. Of the 61 sold homes, 18% were sold under asking, 11% were sold at asking, and 70% were sold over asking.
Days on Market for Cheektowaga, NY
How long does it take to sell a home in Cheektowaga, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 18 Days | +22.2% |
Summary: Homes in Cheektowaga had an average of 18 days on market in May 2024, up by 22.2% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 61 homes were sold in Cheektowaga; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.