Is Onondaga, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Onondaga was a Neutral Market.
Key Takeaway
Onondaga is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Onondaga, NY
How much do homes in Onondaga, NY cost?
Median Sold Price
$270,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Onondaga have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Onondaga was $270,000 in May 2024, up 2.7% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $114.9K | - | N/A |
| 2 Bedrooms | $152K | $155K | +2.0% |
| 3 Bedrooms | $214K | $245K | +14.5% |
| 4 Bedrooms | $365K | $345K | -5.5% |
| 5+ Bedrooms | $489.9K | $460K | -6.1% |
Summary: Onondaga housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Jamesville | $350K | $401.2K | +14.6% |
| Geddes | $185K | $211.1K | +14.1% |
| Syracuse | $164.9K | $173.9K | +5.4% |
| Onondaga | $263K | $270K | +2.7% |
| LaFayette | $265K | $265.5K | 0.2% |
Housing Supply in Onondaga, NY
How many homes are available in Onondaga, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 69 | +9.5% |
Summary: The Onondaga real estate market had 69 homes for sale in May 2024, a 9.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 22 | 27 | +22.7% |
| 4 Bedrooms | 30 | 27 | -10.0% |
| 5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The Onondaga housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
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 Onondaga, 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 Onondaga in May 2024, up by 25.0% 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 Onondaga, NY
How long does it take to sell a home in Onondaga, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 12 Days | +80.3% |
Summary: Homes in Onondaga had an average of 12 days on market in May 2024, up by 80.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Onondaga are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Onondaga; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
