August 2008 Real Estate Market Report by Price Range

Each month I sit down and compile the numbers for the communities of Niagara and Erie County.  Every once in awhile I like to look at these numbers in a slightly differnt way, by price range. When you do that you can see some Western New York Real Estate trends.

In this report, I used the ranges based on the listing price, all numbers regarding sales are based on the actual sold price of the homes for sale in the price point.

Million Dollar and Greater Homes for Sale

• There are 18 homes for sale in this price point ranging from $1,079,000 to $2,000,000 for an average list price of $1,462,222
• There is one pending/under contract listing in this price range at this time
• There has been a total of two homes sold for an average sales price of $972,500 and spending an average of 376 days on the market
  • The first home sold for $995,000 and spent a total of 25 days on the market.  This Lewiston home started at $1,195,000
  • The second home sold for $950,000 and spent a total of 727 days on the market.  This Aurora home started at $1,350,000 when it was first listed.  It appears a victim of chasing the market down.  Yes it is possible to sell quickly in the high range, it is a matter of pricing your home correctly.

$750,000 to $1 Million Homes

• There are 45 active listings in this price point with an average sales price of $862,099
• There is currently one pending home
• In the Past 30 days there has been three sales with an average sold price of $769,917 and spending an average of 77 days on the market
• Year to date, in this range there has been 15 closed sales averaging $778,716 and spending an average of 90 days on the market
  • Highest Sold – $950,000 – 225 days on the market
  • Lowest Sold – $615,000 – 3 days on the market

$500,000 to $750,000 Price Range

• There are currently 111 active single family homes in Western New York for sale for an average list price of $602,743
• There are 3 pending sales
• In the past 30 days there has been 9 closed sales for an average sold price of $561,944 and spent an average of 111 days on the market
• Year to date there has been a total of 41 closed sales in this price range in Western New York averaging a $574,113 sales price after spending an average of 93 days on the market
  • Highes sold – $780,000 – 331 days on the market
  • Lowest sold – $440,000 – zero days on the market

$250,000 – $500,000 Price Range

• There are 801 listings in this price range with an average list price of $338,678
• There are 22 pending/under contract listings in this price range
• In the past 30 days there has been 91 closed sales averaging $314,762 and spending an average of 126 days on the market
• Year to date there has been 457 closed sales in this range averaging $315,629 sold price and spending an aveage of 66 days on the market
  • Highest sold $490,000 – 741 days on the market
  • Lowest sold $220,000 – zero days on the market

$150,000 to $250,000 Price Range

• There are 1,252 active listings in this range with an average list price of $197,250
• There are 66 pending listings in this range
• In the past thirty days there has been a total of 221 closed sales for an average closed price of $186,280 and spending an average of 55 days on the market
• Year to date there has been 1,118 closed sales for an average sold price of $186,793 and spending an average of 63 days on the market
  • Highest Sold – $265,500 – 435 days on the market
  • Lowest Sold – $120,000 – zero days on the market

$100,000 – $150,000 Price Range

• There are currently 1,208 active listings in this range with an average list price of $127,006
• There are currently 82 pending/under contract listings in this range
• In the past thrity days there has been a total of 274 closed sales in this range spending an average of 49 days and selling for an average of $122,538
• Year to date there has been a total of 1,336 closed sales averaging $121,637 and spending an average of 62 days on the market
  • Highest sold – $160,000 – 762 days on the market
  • Lowest sold – $75,000 – zero days on the market

$50,000 to $100,000 Price Range

• There are currently 1,330 active listings with an average list price of $76,742 in this price range
• There are 91 pending/under contract homes for sale in this range
• In the past 30 days there has been a total of 312 closed salesaveraging 51 days on the market and averaging a closed price of $76,343
• Year to date there has been a total of 1,637 homes sold in this price range with an average closed price of $75,557 and spending an average of 66 days ont he market
  • Highest Sold – $127,200 – 741 days on the market
  • Lowest Sold – $30,000 – zero days on the market

Under $50,000 (listings below $5,000 not included)

• There are currently 830 active listings in this range with an average list price of $34,165
• There are currently 50 pending/under contract listings
• In the past 30 days there has been a total of 149 closed sales with an average closed sale price of $28,099 after spending an average of 73 days on the market
• Year to date there has been a toal of 920 closed sales with an average of 70 days on the market and the average closed sales price of $26,999
  • Highest sold – $65,500 – 603 days on the market
  • Lowest sold – $2,500 – zero days on the market

  

  Thinking of selling your Erie County home? Interested in finding out the current market value of your single family home, condo or investment property? Then call www.BestBuffaloHomes.com at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.

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  All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.
  Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2012 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.