Is Rochester, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Rochester has remained a Seller's Market.
Key Takeaway
Rochester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rochester, NY
How much do homes in Rochester, NY cost?
Median Sold Price
$200,828
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rochester have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Rochester was $200,828 in May 2024, up 8.8% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $128.5K | +28.5% |
| 2 Bedrooms | $157.7K | $180K | +14.1% |
| 3 Bedrooms | $182.1K | $205K | +12.5% |
| 4 Bedrooms | $203.6K | $211.8K | +4.1% |
| 5+ Bedrooms | $249.9K | $180K | -28.0% |
Summary: Rochester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.5%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 28%.
Median Sold Price Compared To Nearby Cities
| Rochester | $184.5K | $200.8K | +8.8% |
| Gardiner | $638.5K | $560K | -12.3% |
Housing Supply in Rochester, NY
How many homes are available in Rochester, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,229 | 1,252 | +1.9% |
Summary: The Rochester real estate market had 1,252 homes for sale in May 2024, a 1.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 155 | 157 | +1.3% |
| 3 Bedrooms | 555 | 572 | +3.1% |
| 4 Bedrooms | 345 | 366 | +6.1% |
| 5+ Bedrooms | 165 | 147 | -10.9% |
Summary: The Rochester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 10.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 350 | 317 | -9.4% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
246 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you could pay more than the asking price. 77.6% of homes here sold above asking price last month.
Summary: A total of 317 homes were sold or pending in Rochester in May 2024, down by 9.4% month-over-month. Of the 317 sold homes, 14% were sold under asking, 9% were sold at asking, and 78% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 15 Days | +5.1% |
Summary: Homes in Rochester had an average of 15 days on market in May 2024, up by 5.1% compared to last year.
Breakdown of Home Sale Times
289 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 317 homes were sold in Rochester; 91% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.