Is Cazenovia, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cazenovia was a Neutral Market.
Key Takeaway
Cazenovia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cazenovia, NY
How much do homes in Cazenovia, NY cost?
Median Sold Price
$332,500
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cazenovia have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Cazenovia was $332,500 in May 2024, up 1.7% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $199.9K | N/A |
| 2 Bedrooms | $217.5K | $355K | +63.2% |
| 3 Bedrooms | $290K | $274K | -5.5% |
| 4 Bedrooms | $379K | $392K | +3.4% |
| 5+ Bedrooms | $700K | $415K | -40.7% |
Summary: Cazenovia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 63.2%, 3 bedroom homes decreased by 5.5%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 40.7%.
Housing Supply in Cazenovia, NY
How many homes are available in Cazenovia, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 24 | -11.1% |
Summary: The Cazenovia real estate market had 24 homes for sale in May 2024, a 11.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 7 | -30.0% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Cazenovia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 30%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cazenovia, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Cazenovia in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Cazenovia, NY
How long does it take to sell a home in Cazenovia, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 19 Days | -23.0% |
Summary: Homes in Cazenovia had an average of 19 days on market in May 2024, down by 23% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cazenovia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Cazenovia; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
