Is De Witt, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, De Witt has remained a Seller's Market.
Key Takeaway
De Witt is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in De Witt, NY
How much do homes in De Witt, NY cost?
Median Sold Price
$270,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in De Witt have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in De Witt was $270,000 in May 2024, up 7.6% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107K | $122K | +14.0% |
| 2 Bedrooms | $150.7K | $161.7K | +7.3% |
| 3 Bedrooms | $211K | $238.5K | +13.0% |
| 4 Bedrooms | $309.9K | $347.5K | +12.1% |
| 5+ Bedrooms | $537.5K | $376K | -30.0% |
Summary: De Witt housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 30%.
Median Sold Price Compared To Nearby Cities
| East Syracuse | $183.5K | $220K | +19.9% |
| Jamesville | $350K | $401.2K | +14.6% |
| Salina | $175K | $199K | +13.7% |
| De Witt | $251K | $270K | +7.6% |
| Syracuse | $164.9K | $173.9K | +5.4% |
Housing Supply in De Witt, NY
How many homes are available in De Witt, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 81 | 71 | -12.3% |
Summary: The De Witt real estate market had 71 homes for sale in May 2024, a 12.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 2 | -66.7% |
| 3 Bedrooms | 27 | 30 | +11.1% |
| 4 Bedrooms | 27 | 23 | -14.8% |
| 5+ Bedrooms | 19 | 15 | -21.1% |
Summary: The De Witt housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes decreased by 21.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 15 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in De Witt, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in De Witt in May 2024, down by 28.6% month-over-month. Of the 15 sold homes, 13% were sold under asking, 7% were sold at asking, and 80% were sold over asking.
Days on Market for De Witt, NY
How long does it take to sell a home in De Witt, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 16 Days | +4.2% |
Summary: Homes in De Witt had an average of 16 days on market in May 2024, up by 4.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in De Witt are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in De Witt; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
