Is Lockport, 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, Lockport has remained a Seller's Market.
Key Takeaway
Lockport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lockport, NY
How much do homes in Lockport, NY cost?
Median Sold Price
$208,200
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lockport have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Lockport was $208,200 in May 2024, up 3.3% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80.5K | $34K | -57.8% |
| 2 Bedrooms | $169.9K | $159K | -6.4% |
| 3 Bedrooms | $192.3K | $210K | +9.2% |
| 4 Bedrooms | $237.5K | $251.5K | +5.9% |
| 5+ Bedrooms | $300K | $205K | -31.7% |
Summary: Lockport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 57.8%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 31.7%.
Housing Supply in Lockport, NY
How many homes are available in Lockport, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 125 | 150 | +20.0% |
Summary: The Lockport real estate market had 150 homes for sale in May 2024, a 20.0% increase 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 | 17 | 23 | +35.3% |
| 3 Bedrooms | 56 | 68 | +21.4% |
| 4 Bedrooms | 41 | 44 | +7.3% |
| 5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Lockport 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 increased by 35.3%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 26 | +44.4% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lockport, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Lockport in May 2024, up by 44.4% month-over-month. Of the 26 sold homes, 46% were sold under asking, 0% were sold at asking, and 54% were sold over asking.
Days on Market for Lockport, NY
How long does it take to sell a home in Lockport, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 41 Days | +216.2% |
Summary: Homes in Lockport had an average of 41 days on market in May 2024, up by 216.2% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lockport are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in Lockport; 65% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
