Is Pelham, 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, Pelham was a Seller's Market.
Housing Prices in Pelham, NY
How much do homes in Pelham, NY cost?
Median Sold Price
$1,085,000
$460/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Pelham was $1,085,000 in May 2024, up 20.6% from last year, and the median price per square foot was $460.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $159.5K | $210K | +31.7% |
2 Bedrooms | $320K | $599K | +87.2% |
3 Bedrooms | $765.5K | $960K | +25.4% |
4 Bedrooms | $1.1M | $1.2M | +2.4% |
5+ Bedrooms | $1.5M | $1.7M | +7.3% |
Summary: Pelham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.7%, 2 bedroom homes increased by 87.2%, 3 bedroom homes increased by 25.4%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Cities
Pelham Manor | $900K | $1.3M | +44.4% |
Pelham | $900K | $1.0M | +20.6% |
New Rochelle | $680K | $754.1K | +10.9% |
Mount Vernon | $520K | $471.2K | -9.4% |
Housing Supply in Pelham, NY
How many homes are available in Pelham, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
51 | 59 | +15.7% |
Summary: The Pelham real estate market had 59 homes for sale in May 2024, a 15.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 8 | 9 | +12.5% |
3 Bedrooms | 10 | 13 | +30.0% |
4 Bedrooms | 16 | 19 | +18.8% |
5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The Pelham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 9 | +80.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Pelham in May 2024, up by 80.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Pelham, NY
How long does it take to sell a home in Pelham, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 41 Days | +35.9% |
Summary: Homes in Pelham had an average of 41 days on market in May 2024, up by 35.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Pelham; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.