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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Syracuse is a seller's market

Buyer's
Market

Difference Since January 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.

How much do homes in Syracuse, NY cost?

Median Sold Price

$140,000

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$5,000(+3.7%)

Key Takeaway

Homes in Syracuse have sold for 3.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $150K$77.3K
-48.4%
2 $110K$112K
+1.8%
3 $133.1K$141.6K
+6.3%
4 $144K$145K
+0.7%
5+ $195K$181.5K
-6.9%

Median Sold Price Compared To Nearby Cities

East Syracuse
+26.4%
De Witt
+14.7%
Geddes
+9.4%
Syracuse
+3.7%

How many homes are available in Syracuse, NY?

Number of Homes For Sale

Dec 2022Jan 2023%
283201-29.0%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 32
-33.3%
2 3822
-42.1%
3 150115
-23.3%
4 7045
-35.7%
5+ 2217
-22.7%

Number of Homes Sold

Dec 2022Jan 2023%
8444-47.6%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Syracuse, you could pay more than the asking price. 43.2% of homes here sold above asking price last month.

Average Sale Time

Jan 2022Jan 2023%
24 Days30 Days+23.6%

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Syracuse, NY

Number of homes for sale in Syracuse, NY real estate market have reached 201. The inventory of homes for sale in Syracuse, NY between December 2022 and January 2023 decreased by 29%. In January 2023, listings were on the market for 30 days. During the same period, the median list price in this real estate market was $140,000. Real estate listing prices changed between December 2022 and January 2023: 1 bedroom properties became 48.4% more cheaper, the cost of 2 bedrooms properties went up by 1.8%, 3 bedrooms properties prices increased by 6.3%, the cost of 4 bedrooms properties went up by 0.7%, 5 bedrooms properties prices decreased by 6.9%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes went down by 33.3%, volume of 2 bedrooms homes went down by 42.1%, volume of 3 bedrooms homes went down by 23.3%, 4 bedrooms homes inventory decreased by 35.7%, the quantity of 5 bedrooms homes went down by 22.7%. In January 2023 more than 19 listings in Syracuse, NY were sold above the asking price. During the same period more than 7 listings were sold at asking price, while more than 18 were sold below.

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