Is Rochester, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rochester is a seller's market

Buyer's
Market

Difference Since October 2023

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 in Rochester, NY

How much do homes in Rochester, NY cost?

Median Sold Price

$206,687

$142/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,733(+6.0%)

Key Takeaway

Homes in Rochester have sold for 6% more than they did a year ago.

Summary: The median home sold price in Rochester was $206,687 in October 2024, up 6% from last year, and the median price per square foot was $142.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $108.6K$144.8K
+33.4%
2 $170K$188.5K
+10.9%
3 $195.3K$212.7K
+8.9%
4 $209.7K$216.3K
+3.1%
5+ $227.4K$179.9K
-20.9%

Summary: Rochester housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.4%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 20.9%.

Median Sold Price Compared To Nearby Cities

Kerhonkson
+17.2%
Rochester
+6.0%
Gardiner
-22.8%

Housing Supply in Rochester, NY

How many homes are available in Rochester, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1,4921,322-11.4%

Summary: The Rochester real estate market had 1,322 homes for sale in October 2024, a 11.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 99
0.0%
2 199186
-6.5%
3 703620
-11.8%
4 387341
-11.9%
5+ 194166
-14.4%

Summary: The Rochester housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.5%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes decreased by 14.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
445352-20.9%

Asking Price vs. Sold Price

73 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

260 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochester, you could pay more than the asking price. 73.9% of homes here sold above asking price last month.

Summary: A total of 352 homes were sold or pending in Rochester in October 2024, down by 20.9% month-over-month. Of the 352 sold homes, 21% were sold under asking, 5% were sold at asking, and 74% 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

Oct 2023Oct 2024CHANGE
14 Days15 Days+8.2%

Summary: Homes in Rochester had an average of 15 days on market in Oct 2024, up by 8.2% compared to last year.

Breakdown of Home Sale Times

315 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rochester are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 352 homes were sold in Rochester; 89% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in Rochester, NY

Nearby Markets to Rochester, NY

What housing markets are near Rochester, NY?