CNY Housing Inventories Remain Low
The sellers market continues on in Central New York. The inventory of previously owned homes (all price ranges) remain at historic lows. Year over year numbers for May 2017-2019 clearly demonstrate that relief for buyers is not happening anytime soon. Homes for sale in Onondaga County have consistenly stayed under the 1,000 mark since March of 2018. In Oswego County has seen a 35.8% drop in Homes for sale from May 2017 to May 2019.
First time home buyers will find the market especially difficult with only 406 homes available in the $92,000 to $148,999 price range in all of Onondaga County. Days on Market (DOM) for the same range dropped to 12 days in May 2019 with only a 1.5 month supply of homes. The average Sale Price for this price range in May 2019: $123,475.
|May 2017||May 2018||May 2019|
|CNYIS (MLS Wide)||2,650||2,140||1,915|