$3,230 Closing Credit*
$272,000
1,680 SqFt
3 Beds
•2 Full Baths
Alyssa Emmons, Listing Office: Keller Williams Syracuse
Is Palermo, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Palermo has remained a Seller's Market.
Key Takeaway
Palermo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palermo, NY
How much do homes in Palermo, NY cost?
Median Sold Price
$210,682
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$58,382(+38.3%)
Key Takeaway
Homes in Palermo have sold for 38.3% more than they did a year ago.
Summary: The median home sold price in Palermo was $210,682 in October 2024, up 38.3% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60.5K | - | N/A |
| 2 Bedrooms | $145K | $219.9K | +51.7% |
| 3 Bedrooms | $235K | $210.6K | -10.3% |
| 4 Bedrooms | $79.2K | $225.6K | +184.8% |
| 5+ Bedrooms | $200K | - | N/A |
Summary: Palermo housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 51.7%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 184.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Volney | $160K | $223K | +39.4% |
| Palermo | $152.3K | $210.6K | +38.3% |
| Hastings | $231.3K | $255K | +10.2% |
| New Haven | $179.9K | $194K | +7.8% |
| Pennellville | $220K | $235K | +6.8% |
Housing Supply in Palermo, NY
How many homes are available in Palermo, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Summary: The Palermo real estate market had 5 homes for sale in October 2024, a 16.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Palermo housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palermo, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Palermo in October 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Palermo, NY
How long does it take to sell a home in Palermo, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 5 Days | -88.5% |
Summary: Homes in Palermo had an average of 5 days on market in Oct 2024, down by 88.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palermo are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1 homes were sold in Palermo; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
