Is Utica, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Utica was a Seller's Market.
Key Takeaway
Utica is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Utica, NY
How much do homes in Utica, NY cost?
Median Sold Price
$169,675
$108/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Utica have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Utica was $169,675 in March 2024, up 2.8% from last year, and the median price per square foot was $108.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59.3K | $146.2K | +146.4% |
| 2 Bedrooms | $150K | $160K | +6.7% |
| 3 Bedrooms | $165.3K | $178.9K | +8.2% |
| 4 Bedrooms | $172.5K | $173.5K | +0.6% |
| 5+ Bedrooms | $172K | $146.5K | -14.8% |
Summary: Utica housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 146.4%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 14.8%.
Median Sold Price Compared To Nearby Cities
| New Hartford | $225K | $259.9K | +15.5% |
| Whitestown | $185K | $210K | +13.5% |
| Utica | $165K | $169.6K | +2.8% |
Housing Supply in Utica, NY
How many homes are available in Utica, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 144 | 145 | +0.7% |
Summary: The Utica real estate market had 145 homes for sale in March 2024, a 0.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 51 | 56 | +9.8% |
| 4 Bedrooms | 46 | 46 | 0.0% |
| 5+ Bedrooms | 33 | 29 | -12.1% |
Summary: The Utica housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 9.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 12.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 19 | -38.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Utica, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Utica in March 2024, down by 38.7% month-over-month. Of the 19 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% were sold over asking.
Days on Market for Utica, NY
How long does it take to sell a home in Utica, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 33 Days | -21.0% |
Summary: Homes in Utica had an average of 33 days on market in Mar 2024, down by 21% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Utica are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 19 homes were sold in Utica; 58% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
