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Featured local agent — Elma Center, NY
Sarah Mitchell
Compass Real Estate · Elma Center, NY
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Elma Center, NY Housing Market
The last median sale price Redfin published was $588,967, +1.7% year over year (through May 2026). With 6.0 months of supply and homes going under contract in about 15 days, Elma Center is a leaning buyer's. At today's 6.66% 30-year fixed rate, 20% down on a $588,967 home is about $3,028/mo in principal and interest.
Key numbers for Elma Center, NY
Median sale price
$588,967
+1.7% year over year
Redfin, through May 2026
Days on market
15
Fast-moving
Redfin, through May 2026
Active listings
6
6.0 months of supply
Redfin, through May 2026
30-yr fixed rate
6.66%
Freddie Mac weekly average
Freddie Mac via FRED, August 2026
Median household income
$115,859
Home costs 5.1x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.2%
Selling below asking
Redfin, through May 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Elma Center a buyer's or seller's market?
Elma Center, NY is a leaning buyer's, based on 6.0 months of supply and homes selling in about 15 days. Above 5 months of supply, homes start accumulating faster than they clear, which is where buyers gain leverage on price, repairs, and closing costs.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Elma Center housing market data show?
Every row below is Redfin's final published month for Elma Center, NY. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $588,967 |
| Median list price | $342,400 |
| Year-over-year price change | +1.7% |
| Median price per sq ft | $289/sq ft |
| Median days on market | 15 days |
| Active inventory | 6 listings |
| Months of supply | 6.0 months |
| Sale-to-list price ratio | 98.2% |
| Homes sold (that month) | 1 |
| New listings (that month) | 6 |
| Listings with a price cut | 33.3% |
| Market condition | Leaning buyer's |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Elma Center is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Elma Center is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Elma Center home prices moved?
Over the last three years the median sale price in Elma Center, NY rose 134.6%, from $251,000 to $588,967. 33.3% of Elma Center listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 6.0 months while the sale-to-list ratio slips below its current 98.2%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Elma Center?
Priced off the median sale price of $588,967 at the current 6.66% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $117,793 | $471,174 | $3,028/mo |
| 5% | $29,448 | $559,519 | $3,596/mo |
Redfin, through May 2026 for the price · Freddie Mac via FRED, August 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $3,028, that implies roughly $129,767 a year before you add taxes and insurance. The median household in Elma Center earns $115,859, about $13,908 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the median sale price to fit the 28% rule. That puts the price-to-income ratio at 5.1x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Elma Center in the next 12 months?
Tell us your timeline. We send the Elma Center market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Elma Center?
Zillow does not publish a rent index (ZORI) for Elma Center, NY, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Elma Center?
Active listings in Elma Center, NY went from 4 in March 2025 to 6 in May 2026, a +50.0% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| April 2025 | 5 | 3 |
| May 2025 | 4 | 4 |
| June 2025 | 2 | 5 |
| August 2025 | 6 | 8 |
| September 2025 | 6 | 6 |
| October 2025 | 6 | 4 |
| November 2025 | 4 | 1 |
| December 2025 | 4 | not published |
| January 2026 | 2 | not published |
| February 2026 | 1 | 2 |
| April 2026 | 3 | 2 |
| May 2026 | 6 | 6 |
Redfin, through May 2026
How does Elma Center compare to New York and the U.S.?
Elma Center homes sell for $588,967 — 5% below the New York median of $620,500. Against the national median of $410,700, Elma Center runs 43% higher. Year-over-year, Elma Center moved +1.7% against New York's +5.1% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Elma Center, NY | $588,967 | +1.7% | 15 days |
| New York statewide | $620,500 | +5.1% | 42 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Elma Center
What buyers should watch
- Months of supply, currently 6.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 33.3%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $568 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 6.66%, every full point of rate change moves the payment on a $588,967 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Elma Center listing goes under contract in 15 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.2% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Elma Center added 6 new listings against 1 sales — more competition arriving than clearing, so early timing matters.
- Comparable ZIP-level pricing inside Elma Center varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Elma Center
There are currently 6 homes listed for sale in Elma Center, New York. The median listing price is $342K.
Active listings
6
Homes on market
Median list price
$342K
Avg. days on market
15
Days until sale
New this week
6
Newly listed
How much do homes cost in Elma Center by property type?
How the Elma Center, NY market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $588,967 | $289/sq ft | 1 | 15 days |
| Condo / co-op | $311,000 | $174/sq ft | 1 | 7 days |
| Townhouse | $450,000 | $152/sq ft | 1 | 55 days |
Who lives in Elma Center?
American Community Survey estimates for Elma Center. U.S. Census ACS, 2023
Population
3,091
Households
1,191
Median income
$115,859/yr
Median age
40.6 years
Owner-occupied
86.9%
Median home value
$409,000
Median gross rent
$1,367/mo
Mean commute
27.8 min
86.9% of occupied homes in Elma Center are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which cities are near Elma Center, NY?
Ordered by distance from Elma Center, not by size. Compare Elma Center side by side with any of them.
Elma Center housing market FAQ
Is Elma Center a buyer's or seller's market?
Elma Center, NY is currently a leaning buyer's. That read comes from 6.0 months of supply, homes going under contract in about 15 days, and sellers getting 98.2% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Elma Center?
The median sale price in the last month Redfin published was $588,967, about $289 per square foot.
Is Elma Center cheaper than the rest of New York?
Elma Center's median sale price of $588,967 is 5% lower than the New York statewide median of $620,500, and 43% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Elma Center?
Homes in Elma Center, NY spent a median of 15 days on market before going under contract, versus 42 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Elma Center?
At the current 30-year fixed rate of 6.66%, 20% down on a $588,967 home is about $3,028 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $129,767 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $115,859.
Are home prices rising in Elma Center?
Redfin's last published year-over-year change for Elma Center, NY was +1.7%, measured through May 2026. That series is frozen; treat it as a historical reading rather than a current trend.
What are the cheapest ZIP codes in Elma Center?
Elma Center ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Elma Center?
That depends on your timeline, not on a headline. What the data says today: Elma Center, NY is a leaning buyer's with 6.0 months of supply, the 30-year fixed rate is 6.66%. Properties Incorporated publishes the data; it does not give financial advice.
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