Is Rochester, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Rochester has remained a Seller's Market.
Housing Prices in Rochester, NY
How much do homes in Rochester, NY cost?
Median Sold Price
$200,005
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rochester was $200,005 in April 2024, up 9.5% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $108.5K | $122.8K | +13.2% |
2 Bedrooms | $155.4K | $179.7K | +15.7% |
3 Bedrooms | $181.7K | $204.8K | +12.7% |
4 Bedrooms | $203K | $210K | +3.5% |
5+ Bedrooms | $250K | $182.9K | -26.8% |
Summary: Rochester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.2%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 26.8%.
Median Sold Price Compared To Nearby Cities
Brighton | $275K | $329.5K | +19.8% |
Irondequoit | $189.9K | $220.1K | +15.9% |
Greece | $195.5K | $225K | +15.1% |
Gates | $180K | $205K | +13.9% |
Rochester | $182.5K | $200K | +9.5% |
Housing Supply in Rochester, NY
How many homes are available in Rochester, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,135 | 1,065 | -6.2% |
Summary: The Rochester real estate market had 1,065 homes for sale in April 2024, a 6.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 10 | +11.1% |
2 Bedrooms | 139 | 134 | -3.6% |
3 Bedrooms | 515 | 471 | -8.5% |
4 Bedrooms | 304 | 301 | -1.0% |
5+ Bedrooms | 168 | 149 | -11.3% |
Summary: The Rochester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 11.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
350 | 281 | -19.7% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
212 Homes Were Sold
Over Asking
Summary: A total of 281 homes were sold or pending in Rochester in April 2024, down by 19.7% month-over-month. Of the 281 sold homes, 16% were sold under asking, 9% were sold at asking, and 75% were sold over asking.
Days on Market for Rochester, NY
How long does it take to sell a home in Rochester, NY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
14 Days | 21 Days | +55.3% |
Summary: Homes in Rochester had an average of 21 days on market in Apr 2024, up by 55.3% compared to last year.
Breakdown of Home Sale Times
247 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 281 homes were sold in Rochester; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.