Is Rochester, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$200,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Rochester was $200,000 in February 2024, up 8.5% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $100K | $122.8K | +22.9% |
2 Bedrooms | $155.1K | $172.2K | +11.0% |
3 Bedrooms | $181.8K | $200K | +10.0% |
4 Bedrooms | $205.1K | $214.9K | +4.8% |
5+ Bedrooms | $255K | $175K | -31.4% |
Summary: Rochester housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.9%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 31.4%.
Median Sold Price Compared To Nearby Cities
Brighton | $274.8K | $325K | +18.3% |
Irondequoit | $189.9K | $220K | +15.8% |
Greece | $195.9K | $224.9K | +14.8% |
Gates | $179.1K | $204.5K | +14.2% |
Rochester | $184.2K | $200K | +8.5% |
Housing Supply in Rochester, NY
How many homes are available in Rochester, NY?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,057 | 929 | -12.1% |
Summary: The Rochester real estate market had 929 homes for sale in February 2024, a 12.1% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 2 | -71.4% |
2 Bedrooms | 137 | 126 | -8.0% |
3 Bedrooms | 488 | 411 | -15.8% |
4 Bedrooms | 267 | 242 | -9.4% |
5+ Bedrooms | 158 | 148 | -6.3% |
Summary: The Rochester housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 71.4%, 2 bedroom homes decreased by 8%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
323 | 216 | -33.1% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
138 Homes Were Sold
Over Asking
Summary: A total of 216 homes were sold or pending in Rochester in February 2024, down by 33.1% month-over-month. Of the 216 sold homes, 28% were sold under asking, 8% were sold at asking, and 64% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
17 Days | 23 Days | +36.6% |
Summary: Homes in Rochester had an average of 23 days on market in Feb 2024, up by 36.6% compared to last year.
Breakdown of Home Sale Times
167 Homes Were Sold
Under 30 Days
43 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During February 2024, 216 homes were sold in Rochester; 77% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.