Lima Housing Market Report December 2024•Livingston County, New York

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Housing Prices in Lima, NY

How much do homes in Lima, NY cost?

Housing Market Conditions

Is Lima, NY a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Lima is a Seller's Market

Difference Since December 2023

Since last year, Lima has remained a Seller's Market.

Insight

Lima is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$250,000$148/SqFt
+$29,000
+13.1%

Based on all homes sold in the last 12 months

Insight

Homes in Lima have sold for 13.1% more than they did a year ago.

Summary: The median home sold price in Lima was $250,000 in December 2024, up 13.1% from last year, and the median price per square foot was $148.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1--
N/A
2$68K$252.5K
+271.3%
3$214K$224.5K
+4.9%
4$270K$276K
+2.2%
5$377K$340K
-9.8%

Summary: Lima housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +271.3%. The home price for 3 bedroom homes increased by +4.9%. The home price for 4 bedroom homes increased by +2.2%. The home price for 5 bedroom homes decreased by -9.8%.

Housing supply in Lima, NY

How many homes are available in Lima, NY?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
4Last MonthDec 2024
52 months agoNov 2024
-20.0 %
Change MoMNov – Dec

Summary: The Lima real estate market had 4 homes for sale in Dec 2024, a 20.0 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
1Last MonthDec 2024
22 months agoNov 2024
-50.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
221
-50.0%
321
-50.0%
411
0.0%
501
+100.0%

Summary: Lima housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -50.0%. The inventory for 3 bedroom homes decreased by -50.0%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Lima, NY cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price0 Home

Insight

If you're buying a home in Lima, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Lima in December 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and and 100% were sold over asking.

Days on Market for Lima, NY

How long does it take to sell a home in Lima, NY?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in Lima are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 1 homes were sold in Lima; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
2 DaysThis YearDec 2024
6 Days1 year agoDec 2023
-66.7 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Lima had an average listing age of 2 days in Dec 2024, down by 66.7% compared to the previous year.

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Newest Listings in Lima, NY

What homes are available in Lima, NY?

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MLS Disclaimers and Copyright

Based on information from New York State Alliance of MLS, for the period 01/01/2023 - 01/01/2025

IDXThe data relating to real estate on this website comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS’s. Real estate listings held by other firms are marked with theListing Broker’s Firm Name. Data provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally
harmless.

© 2025 CNYIS, UNYREIS, WNYREIS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 1/17/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.