$1,851 Closing Credit*
$155,900
2,320 SqFt
7 Beds
•2 Full Baths
Giuseppe Zavaglia, Listing Office: Howard Hanna Real Estate
Is Syracuse, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Syracuse has remained a Seller's Market.
Key Takeaway
Syracuse is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Syracuse, NY
How much do homes in Syracuse, NY cost?
Median Sold Price
$185,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$14,333(+8.4%)
Key Takeaway
Homes in Syracuse have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Syracuse was $185,000 in December 2024, up 8.4% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $122K | $140K | +14.8% |
| 2 Bedrooms | $145.2K | $160K | +10.2% |
| 3 Bedrooms | $171.4K | $186.8K | +9.0% |
| 4 Bedrooms | $186.9K | $210K | +12.3% |
| 5+ Bedrooms | $160K | $165K | +3.1% |
Summary: Syracuse housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 3.1%.
Housing Supply in Syracuse, NY
How many homes are available in Syracuse, NY?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 770 | 587 | -23.8% |
Summary: The Syracuse real estate market had 587 homes for sale in December 2024, a 23.8% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 69 | 52 | -24.6% |
| 3 Bedrooms | 345 | 242 | -29.9% |
| 4 Bedrooms | 187 | 154 | -17.6% |
| 5+ Bedrooms | 165 | 134 | -18.8% |
Summary: The Syracuse housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 24.6%, 3 bedroom homes decreased by 29.9%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes decreased by 18.8%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 186 | 151 | -18.8% |
Asking Price vs. Sold Price
46 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
80 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Syracuse, you could pay more than the asking price. 53% of homes here sold above asking price last month.
Summary: A total of 151 homes were sold or pending in Syracuse in December 2024, down by 18.8% month-over-month. Of the 151 sold homes, 30% were sold under asking, 17% were sold at asking, and 53% were sold over asking.
Days on Market for Syracuse, NY
How long does it take to sell a home in Syracuse, NY?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 17 Days | 16 Days | -3.4% |
Summary: Homes in Syracuse had an average of 16 days on market in Dec 2024, down by 3.4% compared to last year.
Breakdown of Home Sale Times
126 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Syracuse are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 151 homes were sold in Syracuse; 83% of homes were sold within 30 days, 15% 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.