Is Onondaga County, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Onondaga County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Onondaga County has remained a Seller's Market.

Key Takeaway

Onondaga County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Onondaga County, NY

How much do homes in Onondaga County, NY cost?

Median Sold Price

$232,174

$154/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$13,345(+6.1%)

Key Takeaway

Homes in Onondaga County have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Onondaga County was $232,174 in October 2024, up 6.1% from last year, and the median price per square foot was $154.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $121K$136.7K
+13.0%
2 $170K$181.9K
+7.0%
3 $200.9K$220.6K
+9.8%
4 $265.4K$289.8K
+9.2%
5+ $277.3K$225K
-18.9%

Summary: Onondaga County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes decreased by 18.9%.

Median Sold Price Compared To Nearby Counties

Cortland County
+10.5%
Oswego County
+9.2%
Onondaga County
+6.1%
Cayuga County
+5.5%
Madison County
+4.4%

Housing Supply in Onondaga County, NY

How many homes are available in Onondaga County, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1,8011,590-11.7%

Summary: The Onondaga County real estate market had 1,590 homes for sale in October 2024, a 11.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1310
-23.1%
2 219196
-10.5%
3 780694
-11.0%
4 541460
-15.0%
5+ 248230
-7.3%

Summary: The Onondaga County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 23.1%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes decreased by 11%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes decreased by 7.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
401341-15.0%

Asking Price vs. Sold Price

90 Homes Were Sold
Under Asking

36 Homes Were Sold
At Asking

215 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Onondaga County, you could pay more than the asking price. 63% of homes here sold above asking price last month.

Summary: A total of 341 homes were sold or pending in Onondaga County in October 2024, down by 15.0% month-over-month. Of the 341 sold homes, 26% were sold under asking, 11% were sold at asking, and 63% were sold over asking.

Days on Market for Onondaga County, NY

How long does it take to sell a home in Onondaga County, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days14 Days-8.3%

Summary: Homes in Onondaga County had an average of 14 days on market in Oct 2024, down by 8.3% compared to last year.

Breakdown of Home Sale Times

299 Homes Were Sold
Under 30 Days

37 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Onondaga County are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 341 homes were sold in Onondaga County; 88% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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