Is Rome, 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, Rome has remained a Seller's Market.
Key Takeaway
Rome is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rome, NY
How much do homes in Rome, NY cost?
Median Sold Price
$169,950
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rome have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Rome was $169,950 in May 2024, up 6.3% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.4K | $102.5K | +61.7% |
| 2 Bedrooms | $125K | $139K | +11.2% |
| 3 Bedrooms | $156.8K | $170K | +8.4% |
| 4 Bedrooms | $225K | $210K | -6.7% |
| 5+ Bedrooms | $137.5K | $136.3K | -0.8% |
Summary: Rome housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.7%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 8.4%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Blossvale | $180K | $192.8K | +7.1% |
| Rome | $159.9K | $169.9K | +6.3% |
| Verona | $239.9K | $205.7K | -14.2% |
Housing Supply in Rome, NY
How many homes are available in Rome, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 125 | 132 | +5.6% |
Summary: The Rome real estate market had 132 homes for sale in May 2024, a 5.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 14 | 18 | +28.6% |
| 3 Bedrooms | 70 | 69 | -1.4% |
| 4 Bedrooms | 25 | 27 | +8.0% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The Rome 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 increased by 28.6%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 27 | +12.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rome, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in Rome in May 2024, up by 12.5% month-over-month. Of the 27 sold homes, 48% were sold under asking, 7% were sold at asking, and 44% were sold over asking.
Days on Market for Rome, NY
How long does it take to sell a home in Rome, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 50 Days | +4.8% |
Summary: Homes in Rome had an average of 50 days on market in May 2024, up by 4.8% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rome are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Rome; 70% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
