Is Now a Good time to buy a house in New York

Is Now a Good Time to Buy a House in New York? (Where to Buy)

Are you wondering if it’s a good time to buy a house right now in New York? Is the real estate market slowing down in NY? Why is it still so hard to find a house? With high mortgage interest rates, a possible recession, and the slowdown of the real estate market- is now a good time to buy a house in New York? Below is a list of the counties in NY where it’s a good time to buy a house right now.

Is Now a Good time to buy a house in New York
Is Now a Good Time to Buy a House in NY?

Is New York in a Buyer’s Market or Seller’s Market right now? 

One way to tell if it’s a good time to buy a house right now is to see if we are in a buyer’s market or a seller’s market right now. According to Redfin’s December 2022 data, there is 2.9 months supply of homes in NY right now. This means New York is in a seller’s market right now. One way to tell if it’s a good time to buy a house right now is to see if we are in a buyer’s market or a seller’s market right now. A balanced market would be a 5 to 6 months supply of homes and a buyer’s market will be greater than 6 months supply of homes. The best time to buy a house is when it’s a buyer’s market. A buyer’s market is when there is a lot of inventory of homes for sale but not enough buyers out there wanting to buy a home. 

Counties in New York Where It’s a Good Time to Buy a House Right Now

Below is a list of counties in New York where it’s a good time to buy a house right now because it’s a buyer’s market and a balanced market. 

New York County, NY

New York County, NY is in a buyer’s market with 8.2 months supply of homes. 

Bronx County, NY

Bronx County, NY is in a buyer’s market with 6.7 months supply of homes. 

Queens County, NY

Queens County, NY is in a buyer’s market with 6.3 months supply of homes. 

Schoharie County, NY

Schoharie County, NY is in a buyer’s market with 6.3 months supply of homes. 

Columbia County, NY

Columbia County, NY is in a balanced market with 5.7 months supply of homes. 

Greene County, NY

Greene County, NY is in a balanced market with 5.6 months supply of homes. 

Kings County, NY

Kings County, NY is in a balanced market with 5.6 months supply of homes. 

St. Lawrence County, NY

St. Lawrence County, NY is in a balanced market with 5 months supply of homes. 

Check out: 40 Places in The US Where Homes are Still Selling Fast

Counties in New York Where It’s a Seller’s Market

Below are counties in New York where it’s a seller’s market. If you are thinking of buying a home in these New York counties, it may make sense to wait until the Spring when there are more homes for sale. March is when sellers start listing their homes for sale, that’s when you get an influx of new home listings.

Franklin County, NY

Franklin County, NY is in a seller’s market with 4.5 months supply of homes. 

Montgomery County, NY

Montgomery County, NY is in a seller’s market with 4.3 months supply of homes. 

Essex County, NY

Essex County, NY is in a seller’s market with 4.2 months supply of homes. 

Chenango County, NY

Chenango County, NY is in a seller’s market with 4.1 months supply of homes. 

Chemung County, NY

Chemung County, NY is in a seller’s market with 3.8 months supply of homes. 

Herkimer County, NY

Herkimer County, NY is in a seller’s market with 3.7 months supply of homes. 

Otsego County, NY

Otsego County, NY is in a seller’s market with 3.7 months supply of homes. 

Richmond County, NY

Richmond County, NY is in a seller’s market with 3.7 months supply of homes. 

Sullivan County, NY

Sullivan County, NY is in a seller’s market with 3.7 months supply of homes. 

Fulton County, NY

Fulton County, NY is in a seller’s market with 3.6 months supply of homes. 

Tioga County, NY

Tioga County, NY is in a seller’s market with 3.5 months supply of homes. 

Delaware County, NY

Delaware County, NY is in a seller’s market with 3.4 months supply of homes. 

Warren County, NY

Warren County, NY is in a seller’s market with 3.4 months supply of homes. 

Dutchess County, NY

Dutchess County, NY is in a seller’s market with 3.2 months supply of homes. 

Jefferson County, NY

Jefferson County, NY is in a seller’s market with 3.1 months supply of homes. 

Ulster County, NY

Ulster County, NY is in a seller’s market with 3 months supply of homes. 

Steuben County, NY

Steuben County, NY is in a seller’s market with 2.9 months supply of homes. 

Washington County, NY

Washington County, NY is in a seller’s market with 2.8 months supply of homes. 

Madison County, NY

Madison County, NY is in a seller’s market with 2.7 months supply of homes. 

Putnam County, NY

Putnam County, NY is in a seller’s market with 2.6 months supply of homes. 

Nassau County, NY

Nassau County, NY is in a seller’s market with 2.5 months supply of homes. 

Schuyler County, NY

Schuyler County, NY is in a seller’s market with 2.5 months supply of homes. 

Cortland County, NY

Cortland County, NY is in a seller’s market with 2.4 months supply of homes. 

Hamilton County, NY

Hamilton County, NY is in a seller’s market with 2.4 months supply of homes. 

Oneida County, NY

Oneida County, NY is in a seller’s market with 2.4 months supply of homes. 

Orange County, NY

Orange County, NY is in a seller’s market with 2.3 months supply of homes. 

Lewis County, NY

Lewis County, NY is in a seller’s market with 2.2 months supply of homes. 

Rensselaer County, NY

Rensselaer County, NY is in a seller’s market with 2.2 months supply of homes. 

Suffolk County, NY

Suffolk County, NY is in a seller’s market with 2.1 months supply of homes. 

Cayuga County, NY

Cayuga County, NY is in a seller’s market with 2 months supply of homes. 

Tompkins County, NY

Tompkins County, NY is in a seller’s market with 2 months supply of homes. 

Allegany County, NY

Allegany County, NY is in a seller’s market with 1.9 months supply of homes. 

Saratoga County, NY

Saratoga County, NY is in a seller’s market with 1.9 months supply of homes. 

Westchester County, NY

Westchester County, NY is in a seller’s market with 1.9 months supply of homes. 

Cattaraugus County, NY

Cattaraugus County, NY is in a seller’s market with 1.8 months supply of homes. 

Schenectady County, NY

Schenectady County, NY is in a seller’s market with 1.8 months supply of homes. 

Albany County, NY

Albany County, NY is in a seller’s market with 1.7 months supply of homes. 

Oswego County, NY

Oswego County, NY is in a seller’s market with 1.7 months supply of homes. 

Rockland County, NY

Rockland County, NY is in a seller’s market with 1.7 months supply of homes. 

Seneca County, NY

Seneca County, NY is in a seller’s market with 1.7 months supply of homes. 

Broome County, NY

Broome County, NY is in a seller’s market with 1.6 months supply of homes. 

Clinton County, NY

Clinton County, NY is in a seller’s market with 1.6 months supply of homes. 

Niagara County, NY

Niagara County, NY is in a seller’s market with 1.6 months supply of homes. 

Wyoming County, NY

Wyoming County, NY is in a seller’s market with 1.5 months supply of homes. 

Chautauqua County, NY

Chautauqua County, NY is in a seller’s market with 1.4 months supply of homes. 

Ontario County, NY

Ontario County, NY is in a seller’s market with 1.4 months supply of homes. 

Orleans County, NY

Orleans County, NY is in a seller’s market with 1.4 months supply of homes. 

Yates County, NY

Yates County, NY is in a seller’s market with 1.4 months supply of homes. 

Onondaga County, NY

Onondaga County, NY is in a seller’s market with 1.2 months supply of homes. 

Erie County, NY

Erie County, NY is in a seller’s market with 1.1 months supply of homes. 

Livingston County, NY

Livingston County, NY is in a seller’s market with 1 months supply of homes. 

Wayne County, NY

Wayne County, NY is in a seller’s market with 0.9 months supply of homes. 

Genesee County, NY

Genesee County, NY is in a seller’s market with 0.7 months supply of homes. 

Monroe County, NY

Monroe County, NY is in a seller’s market with 0.7 months supply of homes. 

Source: December 2022 real estate data from RedFin.

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