Niagara County REO/Foreclosures Market Report – May 1, 2011

There is much interest in purchasing homes that are Bank Owned, are short sales or are foreclosures.   Many times consumers think that they get the best deals purchasing homes in this status.   There are no guarantees and yes some people get some great deals, while others have many unexpected expenses.

Read Also: WNY Foreclosure Properties List

Often buyers are caught off guard on how difficult it can be to purchase these homes.   Often the homes sit vacant for months or years before the bank releases it for sale.   And when they do release them for sale they basically make it very difficult to purchase these homes.

Read also: How to Buy a Bank Owned Property — A little humor

Current Market Report

May 1, 2011

• There are 23 active single family homes in Niagara county in this price range with an average list price of 496,741 ranging from 26,550 to $254,900
• There are 9 pending/under contract sales and in the past 30 days there has been 1 closed sale for $35,000 spending 27 days on the market
• YTD there has been 10 closed sales with an average sold price of $54,685 spending an average of 49 days on the market
  • Highest closed -$166,000 – 113 days on the market
• Lowest closed – $11,850 – 7 days on the market

Selection of REO, Short Sale & Foreclosure Homes – Single Family Homes

Listing # B375260 $254,900 4 bd/3 ba Lewiston 586 Park Ln Sq Ft: 2200 Acres: 0.30 >> View Details >> Add to Favorites Listing # B381007 $250,000 5 bd/3 ba Wheatfield 7048 Rock Dove Ln Sq Ft: 2227 Acres: 0.43 >> View Details >> Add to Favorites Listing # B383278 $170,000 4 bd/2 ba Newfane 1911 Phillips Rd Sq Ft: 2240 Acres: 4.50 >> View Details >> Add to Favorites Listing # B381050 $165,000 4 bd/3 ba Hartland 3293 Hosmer Rd Sq Ft: 2868 Acres: 1.40 >> View Details >> Add to Favorites	Listing # B384254 $159,900 4 bd/2 ba Niagara Falls 8405 Rivershore Dr Sq Ft: 2124 Acres: 0.34 >> View Details >> Add to Favorites Listing # B375549 $140,000 3 bd/3 ba Cambria 4590 Van Dusen Rd Sq Ft: 2220 Acres: 1.01 >> View Details >> Add to Favorites Listing # B368146 $120,000 4 bd/2 ba Royalton 8591 Ernest Rd Sq Ft: 2444 >> View Details >> Add to Favorites Listing # B377995 $109,900 5 bd/2 ba Porter 543 Lockport St Sq Ft: 1716 Acres: 0.34 >> View Details >> Add to Favorites	Listing # B380263 $105,000 4 bd/2 ba Cambria 4948 Lower Mountai… Sq Ft: 2912 Acres: 23.80 >> View Details >> Add to Favorites Listing # B383157 $99,900 2 bd/2 ba Porter 3608 East Ave Sq Ft: 1152 Acres: 0.37 >> View Details >> Add to Favorites Listing # B382998 $69,900 4 bd/1 ba North Tonawanda 1644 Leah Dr Sq Ft: 1504 Acres: 0.21 >> View Details >> Add to Favorites Listing # B376257 $65,000 3 bd/2 ba Lockport-city 14 Morrow Ave Sq Ft: 1248 Acres: 0.10 >> View Details >> Add to Favorites
Listing # B381056 $64,900 3 bd/1 ba Royalton 24 Park Ave Sq Ft: 1280 Acres: 0.20 >> View Details >> Add to Favorites Listing # B373093 $59,900 3 bd/2 ba Royalton 6680 Ditch Rd Sq Ft: 1344 Acres: 4.62 >> View Details >> Add to Favorites Listing # B383326 $57,900 4 bd/2 ba Newfane 6534 Lake Rd Sq Ft: 1395 Acres: 0.47 >> View Details >> Add to Favorites Listing # B380359 $57,500 4 bd/2 ba Lockport-city 431 High St Sq Ft: 1438 Acres: 0.26 >> View Details >> Add to Favorites	Listing # B362316 $29,000 3 bd/1 ba Niagara Falls 2103 North Ave Sq Ft: 1160 Acres: 0.08 >> View Details >> Add to Favorites Listing # B377335 $27,900 3 bd/1 ba Lockport-city 51 Park Pl Sq Ft: 1416 Acres: 0.08 >> View Details >> Add to Favorites Listing # B380862 $26,550 3 bd/1 ba Niagara Falls 2209 Ontario Ave Sq Ft: 1040 Acres: 0.09 >> View Details >> Add to Favorites	Listing # B381529 $50,900 3 bd/1 ba Niagara Falls 651 72nd St Sq Ft: 1168 Acres: 0.15 >> View Details >> Add to Favorites Listing # B377348 $50,000 4 bd/1 ba Lockport-city 38 Franklin Ave Sq Ft: 1992 Acres: 0.24 >> View Details >> Add to Favorites Listing # B372137 $47,000 3 bd/1 ba North Tonawanda 122 3rd Ave Sq Ft: 1818 Acres: 0.17 >> View Details >> Add to Favorites Listing # B375974 $44,000 3 bd/2 ba Niagara Falls 2618 Porter Rd Sq Ft: 1260 Acres: 0.07 >> View Details >> Add to Favorites

Past Market Reports

December 20, 2010

• There are 27 active listings with an average list price of $84,941 ranging from $11,000 to $254,900
• There are 12 pending/under contract sales and in the past 30 days there has been one closed sale for $30,000 after spending 227 days on the market
• YTD there has been 42 closed sales with an average sold price of $58,131 spending an average of 96 days on the market
  • Highest closed – $255,000 – 569 days on the market
  • Lowest closed – $7,000 – 2 days on the market

October 20, 2010

• There are 23 active listings with an average list price of $79,323 ranging from $29,900 to $199,140
• There are 12 pending/under contract sales and no closed sales in the past 30 days
• YTD there has been 35 closed sales with an average sold price $62,233 spending an average of 96 days on the market
  • Highest closed – $255,000 – 569 days on the market
  • Lowest closed – $7,000 – 2 days on the market

August 17, 2010

• There are 29 active listings with an average list price of $94,994 ranging from $28,900 to $229,900
• There are 13 pending/under contract sales and in the past 30 days there has been
• YTD there has been 28 closed sales with an average closed price of $50,431 spending an average of 87 days on the market
  • Highest closed – $255,000 – 569 days on the market
  • Lowest closed – $7,000 0 2 days on the market

June 11, 2010

• There are 30 active listings with an average list price of $92,621 ranging from $15,000 to $274,900
• There are 14 pending/under contract sales and in the past 30 days there has been 3 closed sales with an average closed price of $84,000 spending an average of 279 days on the market
• YTD there has been 19 closed sales with an average closed price of $45,887 spending an average of 94 days on the market
  • Highest closed – $120,000 – 569 days on the market
  • Lowest closed – $7,500 – 4 days on the market

May 2, 2010

• There are 26 active distressed sales in Niagara County with an average list price of $87,480 ranging from $8,900 to $274,900
• There are 15 pending/under contract sales and no closed sales in the past 30 days
• YTD there has been 14 closed sales with an average closed price of $37,918 spending an average of 51 days on the market
  • Highest closed – $89,000 – 148 days on the market
  • Lowest closed – $7,500 – 4 days on the market

March 1, 2010

• There are 21 active listings in this category with an average list price of $85,876 ranging from $6,500 to $265,500
• There are 2 pending/under contract sales and in the past 30 days there has been one closed sale for $18,500 spending 64 days on the market
• YTD there has been 6 closed sales with an average closed price of $44,900 spending an average of 53 days on the market
  • Highest closed – $89,000 – 126 days on the market
  • Lowest closed – $7,500 – 6 days on the market

February 4, 2010

• There are 22 active listings in this category sale on the MLS with an average list price of $72,500 ranging from $6,500 to $263,500
• There are 3 pending/under contract sales and 4 closed sales in the past 30 days with an average $42,380 spending an average of 14 days on the market
• Year to date there has been 5 closed sales with an average closed price $52,380 spending an average 43 days on the market
  • Highest closed – $89,000 – 126 days on the market
  • Lowest closed – $26,000 – zero days on the market

January 4, 2010

• There are currently 17 active listings of Bank Owned, Foreclosure and Short Sales on the MLS
• There are 2 pending and in the past 30 days there has been two closed sales with an average closed price of $62,583 spending an average of 46 days on the market
• In 2009 there were a total of 55 closed sales in this category of sales in Niagara County with an average sold price of $50,999 spending an average of 54 days on the market
• Highest sold – $175,000 – 167 days on the market
• Lowest sold – $7,000 – 3 days on the market

November 9, 2009

• There are 16 active listings with an average listing price of $70,706 ranging from $16,900 to $263,500
• There are 11 pending/under contract sales and 3 closed in the past 30 days with an average closed price of $33,666 spending an average of 61 days on the market
• YTD there were 48 closed sales with an average closed price $50,850 spending an average of 58 days on the market
  • Highest sold – $175,000 – 172 days on the market
  • Lowest sold – $7,000 – 3 days on the market

Thinking of selling your  Niagara county home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Colleen Kulikowski 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, just fill out the form below.   View additional WNY Market Area Statistics here.