Is Rochester, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Rochester was $200,000 in March 2024, up 8.5% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $103.5K | $128.5K | +24.2% |
2 Bedrooms | $156.8K | $175.2K | +11.7% |
3 Bedrooms | $181.8K | $202K | +11.1% |
4 Bedrooms | $205K | $210.9K | +2.9% |
5+ Bedrooms | $255K | $172.5K | -32.4% |
Summary: Rochester housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.2%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 32.4%.
Median Sold Price Compared To Nearby Cities
Brighton | $275K | $324K | +17.8% |
Irondequoit | $190K | $220K | +15.8% |
Greece | $195.8K | $225K | +14.9% |
Gates | $180K | $205K | +13.9% |
Rochester | $184.2K | $200K | +8.5% |
Housing Supply in Rochester, NY
How many homes are available in Rochester, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,070 | 1,006 | -6.0% |
Summary: The Rochester real estate market had 1,006 homes for sale in March 2024, a 6.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 6 | -14.3% |
2 Bedrooms | 136 | 123 | -9.6% |
3 Bedrooms | 493 | 453 | -8.1% |
4 Bedrooms | 272 | 266 | -2.2% |
5+ Bedrooms | 162 | 158 | -2.5% |
Summary: The Rochester housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 9.6%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes decreased by 2.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
261 | 287 | +10.0% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
222 Homes Were Sold
Over Asking
Summary: A total of 287 homes were sold or pending in Rochester in March 2024, up by 10.0% month-over-month. Of the 287 sold homes, 18% were sold under asking, 5% were sold at asking, and 77% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 16 Days | -13.4% |
Summary: Homes in Rochester had an average of 16 days on market in Mar 2024, down by 13.4% compared to last year.
Breakdown of Home Sale Times
254 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 287 homes were sold in Rochester; 89% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.