Is 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, Syracuse was a Neutral Market.
Housing Prices in Syracuse, NY
How much do homes in Syracuse, NY cost?
Median Sold Price
$170,247
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Syracuse was $170,247 in April 2024, up 3.2% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $84.8K | $122K | +43.9% |
2 Bedrooms | $132.3K | $146K | +10.3% |
3 Bedrooms | $162.9K | $175K | +7.4% |
4 Bedrooms | $188.7K | $188.8K | 0.0% |
5+ Bedrooms | $225K | $149K | -33.7% |
Summary: Syracuse housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.9%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 7.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 33.7%.
Housing Supply in Syracuse, NY
How many homes are available in Syracuse, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
590 | 541 | -8.3% |
Summary: The Syracuse real estate market had 541 homes for sale in April 2024, a 8.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 66 | 60 | -9.1% |
3 Bedrooms | 224 | 204 | -8.9% |
4 Bedrooms | 148 | 146 | -1.4% |
5+ Bedrooms | 146 | 127 | -13.0% |
Summary: The Syracuse housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 13%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
112 | 119 | +6.3% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
61 Homes Were Sold
Over Asking
Summary: A total of 119 homes were sold or pending in Syracuse in April 2024, up by 6.3% month-over-month. Of the 119 sold homes, 38% were sold under asking, 11% were sold at asking, and 51% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 24 Days | -1.5% |
Summary: Homes in Syracuse had an average of 24 days on market in Apr 2024, down by 1.5% compared to last year.
Breakdown of Home Sale Times
92 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During April 2024, 119 homes were sold in Syracuse; 77% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.