Is Westside Syracuse, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Westside Syracuse was a Buyer's Market.
Key Takeaway
Westside Syracuse is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westside Syracuse, NY
How much do homes in Westside Syracuse, NY cost?
Median Sold Price
$115,000
$60/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in Westside Syracuse has remained the same since last year.
Summary: The median home sold price in Westside Syracuse was $115,000 in April 2024, the same as last year, and the median price per square foot was $60.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $83.2K | $107.5K | +29.1% |
| 3 Bedrooms | $124.5K | $114.9K | -7.7% |
| 4 Bedrooms | $105K | $120K | +14.3% |
| 5+ Bedrooms | $72.5K | $100K | +37.9% |
Summary: Westside Syracuse housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.1%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 37.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown Syracuse | $253.7K | $310K | +22.2% |
| Westside Syracuse | $115K | $115K | 0.0% |
Housing Supply in Westside Syracuse, NY
How many homes are available in Westside Syracuse, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 53 | -23.2% |
Summary: The Westside Syracuse real estate market had 53 homes for sale in April 2024, a 23.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 16 | 10 | -37.5% |
| 4 Bedrooms | 19 | 13 | -31.6% |
| 5+ Bedrooms | 26 | 24 | -7.7% |
Summary: The Westside Syracuse housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 31.6%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westside Syracuse, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Westside Syracuse in April 2024, up by 33.3% month-over-month. Of the 12 sold homes, 42% were sold under asking, 8% were sold at asking, and 50% were sold over asking.
Days on Market for Westside Syracuse, NY
How long does it take to sell a home in Westside Syracuse, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 26 Days | -24.3% |
Summary: Homes in Westside Syracuse had an average of 26 days on market in Apr 2024, down by 24.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westside Syracuse are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Westside Syracuse; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
