Is Syracuse, 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, Syracuse has remained a Seller's Market.
Housing Prices in Syracuse, NY
How much do homes in Syracuse, NY cost?
Median Sold Price
$170,455
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Syracuse was $170,455 in March 2024, up 3.3% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $84.8K | $125K | +47.4% |
2 Bedrooms | $130K | $141.5K | +8.8% |
3 Bedrooms | $162.4K | $175K | +7.8% |
4 Bedrooms | $187K | $188.5K | +0.8% |
5+ Bedrooms | $225.7K | $145.6K | -35.5% |
Summary: Syracuse housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.4%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 35.5%.
Housing Supply in Syracuse, NY
How many homes are available in Syracuse, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
557 | 537 | -3.6% |
Summary: The Syracuse real estate market had 537 homes for sale in March 2024, a 3.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 70 | 61 | -12.9% |
3 Bedrooms | 238 | 202 | -15.1% |
4 Bedrooms | 122 | 130 | +6.6% |
5+ Bedrooms | 122 | 139 | +13.9% |
Summary: The Syracuse housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.9%, 3 bedroom homes decreased by 15.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 13.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
140 | 95 | -32.1% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Summary: A total of 95 homes were sold or pending in Syracuse in March 2024, down by 32.1% month-over-month. Of the 95 sold homes, 33% were sold under asking, 15% were sold at asking, and 53% were sold over asking.
Days on Market for Syracuse, NY
How long does it take to sell a home in Syracuse, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 27 Days | -17.2% |
Summary: Homes in Syracuse had an average of 27 days on market in Mar 2024, down by 17.2% compared to last year.
Breakdown of Home Sale Times
71 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 95 homes were sold in Syracuse; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.