Is Rochester, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Rochester has remained a Seller's Market.
Key Takeaway
Rochester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Rochester, NY cost?
Median Sold Price
$187,391
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Rochester have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Rochester was $187,391 in August 2023, up 6.5% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $103K | $113.3K | +10.0% |
| 2 Bedrooms | $150K | $163K | +8.7% |
| 3 Bedrooms | $175K | $187.1K | +7.0% |
| 4 Bedrooms | $202K | $207.6K | +2.8% |
| 5+ Bedrooms | $250K | $245K | -2.0% |
Summary: Rochester housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 2%.
Median Sold Price Compared To Nearby Cities
| Gardiner | $574.9K | $627K | +9.0% |
| Rochester | $175.9K | $187.3K | +6.5% |
| Kerhonkson | $440K | $315K | -28.4% |
Housing Supply
How many homes are available in Rochester, NY?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 1,524 | 1,376 | -9.7% |
Summary: The Rochester real estate market had 1,376 homes for sale in August 2023, a 9.7% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 8 | -27.3% |
| 2 Bedrooms | 144 | 149 | +3.5% |
| 3 Bedrooms | 790 | 698 | -11.6% |
| 4 Bedrooms | 415 | 353 | -14.9% |
| 5+ Bedrooms | 164 | 168 | +2.4% |
Summary: The Rochester housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 27.3%, 2 bedroom homes increased by 3.5%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes increased by 2.4%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 441 | 399 | -9.5% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
331 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you could pay more than the asking price. 83% of homes here sold above asking price last month.
Summary: A total of 399 homes were sold or pending in Rochester in August 2023, down by 9.5% month-over-month. Of the 399 sold homes, 13% were sold under asking, 4% were sold at asking, and 83% were sold over asking.
Days on Market
How long does it take to sell a home in Rochester, NY?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 9 Days | 10 Days | +4.3% |
Summary: Homes in Rochester had an average of 10 days on market in Aug 2023, up by 4.3% compared to last year.
Breakdown of Home Sale Times
382 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 399 homes were sold in Rochester; 96% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
The data relating to real estate for sale or rent on this web site comes from the IDX program of the Mid Hudson Multiple Listing Service, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed and should be verified.