Is East Syracuse, 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, East Syracuse has remained a Seller's Market.
Key Takeaway
East Syracuse is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Syracuse, NY
How much do homes in East Syracuse, NY cost?
Median Sold Price
$220,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Syracuse have sold for 19.9% more than they did a year ago.
Summary: The median home sold price in East Syracuse was $220,000 in May 2024, up 19.9% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107K | $121K | +13.1% |
| 2 Bedrooms | $149.9K | $171.7K | +14.6% |
| 3 Bedrooms | $182K | $226.5K | +24.5% |
| 4 Bedrooms | $210K | $252.5K | +20.2% |
| 5+ Bedrooms | $220K | $220K | 0.0% |
Summary: East Syracuse housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes did not change.
Housing Supply in East Syracuse, NY
How many homes are available in East Syracuse, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 38 | -13.6% |
Summary: The East Syracuse real estate market had 38 homes for sale in May 2024, a 13.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 21 | 21 | 0.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 8 | 5 | -37.5% |
Summary: The East Syracuse housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 37.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 7 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Syracuse, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in East Syracuse in May 2024, down by 50.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for East Syracuse, NY
How long does it take to sell a home in East Syracuse, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 13 Days | +93.9% |
Summary: Homes in East Syracuse had an average of 13 days on market in May 2024, up by 93.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Syracuse are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in East Syracuse; 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.
