Is Syracuse, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Syracuse has remained a Seller's Market.
Key Takeaway
Syracuse is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Syracuse, NY
How much do homes in Syracuse, NY cost?
Median Sold Price
$171,389
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Syracuse have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Syracuse was $171,389 in November 2023, up 7.1% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $78.6K | $122K | +55.1% |
| 2 Bedrooms | $125K | $145K | +16.0% |
| 3 Bedrooms | $159.4K | $172.3K | +8.1% |
| 4 Bedrooms | $182K | $184K | +1.1% |
| 5+ Bedrooms | $232.4K | $174.5K | -24.9% |
Summary: Syracuse housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 55.1%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 24.9%.
Housing Supply in Syracuse, NY
How many homes are available in Syracuse, NY?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 740 | 608 | -17.8% |
Summary: The Syracuse real estate market had 608 homes for sale in November 2023, a 17.8% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 68 | 50 | -26.5% |
| 3 Bedrooms | 341 | 288 | -15.5% |
| 4 Bedrooms | 193 | 158 | -18.1% |
| 5+ Bedrooms | 136 | 111 | -18.4% |
Summary: The Syracuse housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 26.5%, 3 bedroom homes decreased by 15.5%, 4 bedroom homes decreased by 18.1%, and 5+ bedroom homes decreased by 18.4%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 200 | 136 | -32.0% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
85 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Syracuse, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 136 homes were sold or pending in Syracuse in November 2023, down by 32.0% month-over-month. Of the 136 sold homes, 30% were sold under asking, 7% were sold at asking, and 63% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 18 Days | 15 Days | -14.6% |
Summary: Homes in Syracuse had an average of 15 days on market in Nov 2023, down by 14.6% compared to last year.
Breakdown of Home Sale Times
120 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Syracuse are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 136 homes were sold in Syracuse; 88% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% 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 on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.