Is Rochester, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Rochester has remained a Seller's Market.
Housing Prices in Rochester, NY
How much do homes in Rochester, NY cost?
Median Sold Price
$201,506
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Rochester was $201,506 in June 2024, up 8.9% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $128.5K | +35.3% |
2 Bedrooms | $159.2K | $180K | +13.0% |
3 Bedrooms | $182.6K | $205.4K | +12.4% |
4 Bedrooms | $206K | $209.2K | +1.5% |
5+ Bedrooms | $249.1K | $186.2K | -25.2% |
Summary: Rochester housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.3%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 25.2%.
Median Sold Price Compared To Nearby Cities
Brighton | $280K | $324.8K | +16.0% |
Irondequoit | $193.5K | $223.6K | +15.5% |
Greece | $200K | $230K | +15.0% |
Gates | $181K | $205K | +13.3% |
Rochester | $185K | $201.5K | +8.9% |
Housing Supply in Rochester, NY
How many homes are available in Rochester, NY?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,397 | 1,274 | -8.8% |
Summary: The Rochester real estate market had 1,274 homes for sale in June 2024, a 8.8% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 6 | -40.0% |
2 Bedrooms | 165 | 152 | -7.9% |
3 Bedrooms | 648 | 600 | -7.4% |
4 Bedrooms | 395 | 357 | -9.6% |
5+ Bedrooms | 179 | 159 | -11.2% |
Summary: The Rochester housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 7.9%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes decreased by 11.2%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
394 | 322 | -18.3% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
269 Homes Were Sold
Over Asking
Summary: A total of 322 homes were sold or pending in Rochester in June 2024, down by 18.3% month-over-month. Of the 322 sold homes, 11% were sold under asking, 6% were sold at asking, and 84% were sold over asking.
Days on Market for Rochester, NY
How long does it take to sell a home in Rochester, NY?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
9 Days | 11 Days | +11.4% |
Summary: Homes in Rochester had an average of 11 days on market in Jun 2024, up by 11.4% compared to last year.
Breakdown of Home Sale Times
302 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During June 2024, 322 homes were sold in Rochester; 94% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.