Is Utica, 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, Utica has remained a Seller's Market.
Key Takeaway
Utica is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Utica, NY
How much do homes in Utica, NY cost?
Median Sold Price
$169,966
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Utica have sold for 3% more than they did a year ago.
Summary: The median home sold price in Utica was $169,966 in May 2024, up 3% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.1K | $121.2K | +8.1% |
| 2 Bedrooms | $137K | $179K | +30.7% |
| 3 Bedrooms | $166.3K | $177.2K | +6.5% |
| 4 Bedrooms | $174K | $180K | +3.4% |
| 5+ Bedrooms | $149.1K | $148K | -0.8% |
Summary: Utica housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 30.7%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Whitestown | $182.3K | $219K | +20.1% |
| New Hartford | $225.5K | $265.5K | +17.7% |
| Yorkville | $150K | $164.1K | +9.5% |
| Utica | $165K | $169.9K | +3.0% |
Housing Supply in Utica, NY
How many homes are available in Utica, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 163 | 166 | +1.8% |
Summary: The Utica real estate market had 166 homes for sale in May 2024, a 1.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 61 | 73 | +19.7% |
| 4 Bedrooms | 46 | 39 | -15.2% |
| 5+ Bedrooms | 42 | 41 | -2.4% |
Summary: The Utica 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 decreased by 8.3%, 3 bedroom homes increased by 19.7%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes decreased by 2.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 35 | +40.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Utica, you may be able to get a good deal. 54.3% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Utica in May 2024, up by 40.0% month-over-month. Of the 35 sold homes, 54% were sold under asking, 6% were sold at asking, and 40% were sold over asking.
Days on Market for Utica, NY
How long does it take to sell a home in Utica, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 14 Days | -64.7% |
Summary: Homes in Utica had an average of 14 days on market in May 2024, down by 64.7% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Utica are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 35 homes were sold in Utica; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
