Is Rainbow Lake, NY 12976 a buyer’s or seller’s market?
Rainbow Lake is a seller’s market. With about 3.2 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Rainbow Lake housing market right now
In the three months ending August 31, 2026, 0% of homes in Rainbow Lake, NY 12976 sold above their list price, the typical home went under contract in 23 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (368 days then) and the median sale price rose 606% to $2,398,962. Overall, Rainbow Lake is more competitive than a year ago, so tougher for buyers.
Within Franklin County, homes here sell faster than in 71% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Bombay 12914 (100% sold over asking) and Paul Smiths 12970 (75% sold over asking) are even more competitive.
Run the numbers for 12976
Nearby markets
Bloomingdale 12913Seller’s market $202 /sq ftBombay 12914Buyer’s market $57 /sq ftBrushton 12916Buyer’s market $103 /sq ftBurke 12917Buyer’s market $588 /sq ft Browse all markets →Where Rainbow Lake is
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Questions about Rainbow Lake real estate
Is Rainbow Lake a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Rainbow Lake, NY 12976 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Rainbow Lake?
The typical home went under contract in 23 days in the latest three months.
Do homes in Rainbow Lake sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.1% of the list price.
What are property taxes in Rainbow Lake?
About 1.68% of a home’s value a year in Franklin County, or roughly $6,720 on a $400,000 home.
What is the median home price in Rainbow Lake?
The median sale price was $2,398,962 in the three months ending August 31, 2026, about $587 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology