Is Syracuse, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$174,951
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Syracuse have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Syracuse was $174,951 in June 2024, up 5.9% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99.8K | $134.7K | +35.0% |
| 2 Bedrooms | $134K | $150K | +11.9% |
| 3 Bedrooms | $164.5K | $175.4K | +6.7% |
| 4 Bedrooms | $185.6K | $195K | +5.0% |
| 5+ Bedrooms | $218.7K | $150K | -31.4% |
Summary: Syracuse housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 31.4%.
Housing Supply in Syracuse, NY
How many homes are available in Syracuse, NY?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 672 | 600 | -10.7% |
Summary: The Syracuse real estate market had 600 homes for sale in June 2024, a 10.7% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 79 | 62 | -21.5% |
| 3 Bedrooms | 259 | 242 | -6.6% |
| 4 Bedrooms | 181 | 170 | -6.1% |
| 5+ Bedrooms | 151 | 126 | -16.6% |
Summary: The Syracuse housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 21.5%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes decreased by 16.6%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 183 | 120 | -34.4% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
79 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Syracuse, you could pay more than the asking price. 65.8% of homes here sold above asking price last month.
Summary: A total of 120 homes were sold or pending in Syracuse in June 2024, down by 34.4% month-over-month. Of the 120 sold homes, 24% were sold under asking, 10% were sold at asking, and 66% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 19 Days | 18 Days | -8.0% |
Summary: Homes in Syracuse had an average of 18 days on market in Jun 2024, down by 8% compared to last year.
Breakdown of Home Sale Times
102 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 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 June 2024, 120 homes were sold in Syracuse; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% 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.