Is Orchard Park, 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, Orchard Park has remained a Seller's Market.
Housing Prices in Orchard Park, NY
How much do homes in Orchard Park, NY cost?
Median Sold Price
$387,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Orchard Park was $387,000 in May 2024, down 0.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $256K | $285.5K | +11.5% |
3 Bedrooms | $320K | $345K | +7.8% |
4 Bedrooms | $492.5K | $504K | +2.3% |
5+ Bedrooms | $710K | $405K | -43.0% |
Summary: Orchard Park 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 11.5%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 43%.
Housing Supply in Orchard Park, NY
How many homes are available in Orchard Park, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
91 | 86 | -5.5% |
Summary: The Orchard Park real estate market had 86 homes for sale in May 2024, a 5.5% decrease 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 | 10 | 7 | -30.0% |
3 Bedrooms | 30 | 30 | 0.0% |
4 Bedrooms | 42 | 38 | -9.5% |
5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Orchard Park 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 30%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 15 | +114.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Orchard Park in May 2024, up by 114.3% month-over-month. Of the 15 sold homes, 40% were sold under asking, 7% were sold at asking, and 53% were sold over asking.
Days on Market for Orchard Park, NY
How long does it take to sell a home in Orchard Park, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
58 Days | 18 Days | -68.1% |
Summary: Homes in Orchard Park had an average of 18 days on market in May 2024, down by 68.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Orchard Park; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.