Housing Market Statistics

Inventory continues to be a challenge for the Central New York housing market. Below is an interactive chart showing 3 years of inventory for resale homes available in the several local school districts (North Syracuse/CNY, Liverpool, Baldwinsville, and East Syracuse-Minoa). Hover over the graph lines to see the inventory by month. When inventory remains this low prices tend to increase creating a “sellers” market. Data obtained from Central New York Information Service (CNYIS) the MLS of the Greater Syracuse Association of REALTORS of which we are Members.

Sellers Brace for Stiffer Competition as Buyers Retreat

Sellers Brace for Stiffer Competition as Buyers Retreat

A shift is occurring in many housing markets. Affordability may be prompting more potential buyers to pause due to rising mortgage rates over the last few weeks, and home sellers are now facing more competition. Homeowners may no longer be able to expect the quick sale they’ve seen their neighbors get in the past.

The number of For Sale signs is starting to increase across the country. Unsold inventory is at a 4.4-month supply at the current sales pace. Inventories were at 1.88 million in September, up slightly from 1.86 million a year ago, according to the National Association of REALTORS®’ latest housing report, released Friday.

“There is a clear shift in the market with another month of rising inventory on a year-over-year basis, though seasonal factors are leading to a third straight month of declining inventory,” says Lawrence Yun, NAR’s chief economist. “Homes will take a bit longer to sell compared to the super-heated fast pace that we saw earlier this year.” Source:  National Association of REALTORS (NAR) of which we are Members.

Click Here for the Complete NAR Article

May 2018 Housing Market Update – Onondaga County

May 2018 Housing Market Update – Onondaga County

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Ready to list?  Talk to us regarding our full service listing program.  Features a 10% commission rebate to the seller and 5% commission rebate to either the Central New York Humane Society or Northern Onondaga Meals on Wheels.
May 2018 Local Housing Market Update for Onondaga County, New York.  Several key indicators to watch (Single Family) are New Listings down 10.3% Year to Date, Pending Sales down 18.9%, Closed Sales down 15.9% Year to Date while Inventory of Homes for Sale has increased by 4.4%.  Average sale price in Onondaga County is up 4.8% and Median Sales Price is up 4.6%.  What does this mean to you?  If you are considering selling your home market conditions are favoring the seller.  Call us today or complete the “Contact Us” form to schedule a free Comprehensive Market Analysis of your home. Just thinking of selling and wondering about the value of your home?  Try our new ePropertyWatch™ service to receive a once a month report (via email) showing the estimated value of your home, market activity in your neighborhood, and up to date market trends in your area.  To view the complete and detailed Market Update (pdf) click here: Onondaga County NY May 2018

Data provided by Central New York Information Service – The MLS of the Greater Syracuse Association of REALTORS®. Visit cnyREALTOR.com

2018 Parade of Homes

2018 Parade of Homes

Yes there is going to be a 2018 Parade of Homes.  The Parade of Homes will be held in September 2018 at Crowne Pointe off Route 173.  Parade is a great opportunity to purchase a new construction home fully landscaped, driveway installed, and with some really cool amenities. Usually at a very fair price!  To visit the Parade of Homes web page Click Here!

Low Inventory-High Demand Market Trends For Onondaga County

A GREAT time to list your Onondaga County Home!  According to the Mortgage Bankers Association weekly Mortgage Applications Survey for the week ending March 23, 2018 mortgage application increased 4.8% from the previous week indicating increasing demand.  Data from the Central New York Information Service (MLS of the Greater Syracuse Association of REALTORS®) shows a significant drop in homes for sale ($129K to $209K) in Onondaga County a 49.5% drop since 1/2015. Combine increasing demand, increasing prices, shrinking inventories and our Sellers Commission Rebate (25% for homes listed by 4/30/18) and there hasn’t been a better time to list your home in Onondaga County.

Local Market Update Town of Clay

Local Market Update Town of Clay

Market Update for the Town of Clay.  2018 Listings down 9.8%, Median Sale Price up 2.9%, and days on Market dropped to 27 from 59 in 2017.  See the full report attached to this post.  Data from Central New York Information Service (CNYIS) the MLS of the Greater Syracuse Association of REALTORS® (GSAR).  What does this mean?  If you are considering listing your home NOW is a great time.  Low inventories and higher prices combined with our current Rebate Program (25%) for listing by April 30, 2018 means more money in your pocket.   For a real estate market update in your area complete the Contact Us Form to the right and include the area you are requesting in the Message Box.

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