Onondaga County’s residential real estate market in 2025 remained robust and highly competitive. Home prices reached record highs amid persistent low inventory, and homes continued to sell at lightning speed, often above asking price. However, there were signs that the extreme frenzy of the previous year eased slightly, providing a bit of relief for buyers (and a cautionary note for sellers). Below is a detailed look at the key trends and takeaways for 2025, especially useful for anyone thinking of buying or selling a home in Onondaga County.
2025 By the Numbers — Key Market Stats
- Homes Sold: ~4,044 homes sold in 2025, a slight increase from 3,988 in 2024. (For comparison, 2016–2022 averaged 5,000–5,500 sales per year, so transaction volumes remain well below pre-2023 norms.)
- Median Sale Price: $270,500 (about +8.6% vs. ~$249,000 in 2024, and dramatically up from ~$167,500 in 2020).
- Average Sale Price: $329,748 (about +12% vs. ~$293,349 in 2024).
- Median Price per Square Foot: ~$175/sq ft (up from ~$164/sq ft in 2024, and up ~60% from ~$109/sq ft in 2020).
- Median Days on Market: 6 days (essentially unchanged — it’s been ~5–6 days since 2021, reflecting very fast sales).
- Average Days on Market: ~18 days (hovering in the 16–18 day range since 2021 — still quite low historically).
- Average Sale-to-List Price Ratio: ~104% in 2025 (the average home sold for about 4% over the asking price, down slightly from ~105.5% or ~5.5% over ask in 2024).
- Competition: An estimated 65–70% of homes sold above list price in 2025, whereas in 2024 it was around 75% — a minor cooling. By late 2025, about 54% of listings were selling above ask (down ~9 percentage points year-over-year), and ~21.5% of sellers had to reduce their price before selling (up from ~17% the year prior).
These figures paint the picture of a seller’s market that persisted through 2025 — with high prices and quick sales — but also one that slightly moderated compared to the ultra-tight conditions of the previous year.
Home Prices Soar to New Highs
Home prices in Onondaga County hit all-time highs in 2025. The median sale price reached roughly $270,500, and the average sale price about $329,748, both significant increases from last year’s record levels. For context, local MLS data show 2024’s median was around $249,000, so 2025 saw roughly an 8–9% jump in median price. This continues the steep upward trajectory we’ve seen in recent years — for example, the county’s median sale price was only about $190,000 in 2022, and around $167,500 in 2020, meaning prices have risen well over 60% since the pre-pandemic days. In short, 2025 buyers paid more for homes than ever before.
This trend is corroborated by broader indices: Zillow’s Home Value Index for Onondaga County (which measures typical home values across the market) was $265,852 as of late 2025, up 5.7% from the previous year. The price per square foot also climbed sharply — the median price per sqft was about $175 in 2025, up from ~$164 in 2024 (and only ~$109 in 2020). This means buyers are paying a lot more for each square foot of home than they did just a few years ago, highlighting how demand has driven up values across all sizes of homes.
Several factors have fueled these price increases. Limited supply is a primary driver — there are more buyers than homes for sale — which leads to bidding wars and over-asking offers (discussed more below). Additionally, Central New York’s growing appeal and economic development (e.g. expansion of tech and manufacturing projects like Micron) have bolstered demand. Local experts note that the Syracuse area has seen “unprecedented growth” in home values in recent years. Even with the recent jumps, Central New York remains relatively affordable compared to downstate or national markets, which continues to attract some out-of-area buyers. “We are still one of the most affordable markets in the country,” as one local broker observed. (The national median home price was around $396,900 in 2025, and the Northeast regional median about $475,400, both far above Onondaga’s ~$270K median — a reminder that despite our price increases, housing in Onondaga County is a bargain by national standards.)
Bottom line for prices: Sellers in 2025 enjoyed record-high home values, often realizing substantial gains if they had owned their homes for a few years. Buyers, on the other hand, faced a pricier market than ever before — though relative to many areas, Onondaga County’s homes still offered more bang for the buck.
Low Inventory Keeps Sales Volume Subdued
One of the most important stories of 2025 was the lack of homes available for sale. The number of closed sales was just over 4,000 for the year, which is on par with 2024 (around 3,988 sales) and well below the levels seen prior to 2023. In the 2016–2019 period, it was common to see 5,000–5,500 homes sold per year in Onondaga County, but the annual sales count dropped into the 4,000s starting in 2023. This indicates that many potential sellers stayed on the sidelines, resulting in fewer transactions even though buyer demand remained high.
Why are sales down so much from the past? The main culprit is limited inventory — there simply weren’t enough homes on the market to meet buyer demand. Many homeowners have been reluctant to sell, a trend seen since the pandemic. One big factor is that mortgage interest rates jumped to roughly 20-year highs in 2023 and remained elevated in 2025 (around 7% for much of the year). Homeowners who previously locked in ultra-low rates (3%–4% on their current mortgages) are “locked in” and hesitant to move, because buying a new home at a higher rate would mean a much costlier monthly payment. The National Association of Realtors noted that across the country, high rates and prices have kept many sellers (and buyers) on the sidelines, calling housing affordability a “major challenge”. Central New York was not immune to this — new housing construction also hasn’t kept pace with demand, exacerbating the shortage of homes for sale.
However, 2025 did bring a glimmer of improvement on the supply side. By the second half of the year, more listings started to hit the market. In fact, Onondaga County saw a 4.8% increase in new listings year-over-year, and roughly a 9.8% increase in the total number of homes listed for sale (comparing October 2025 to October 2024). Likewise, the Greater Syracuse Association of REALTORS® reported that inventory at the end of 2024 was up about 21% from a year prior in Central New York, a positive trend that likely continued into 2025. Concretely, this meant that instead of virtually every listing getting snapped up immediately, buyers in late 2025 had a few more options to choose from at any given time than they did in 2022–2023. (For example, Realtor.com data show around 1,200–1,500 active listings in Onondaga County in late 2025, whereas during the peak of the shortage in 2022, active listings were well under 1,000.)
Despite this modest improvement, inventory remained historically low. Many would-be sellers still stayed put, and the region would need a lot more new homes to fully bridge the gap. A recent housing assessment suggested Onondaga County needs to add thousands of units per year to meet demand — a long-term challenge. For 2025, the tight supply meant that even though buyer demand was strong, the capped number of listings limited how many sales could actually occur. In other words, homes were selling as fast as they came on the market, but there just weren’t enough of them.
Bottom line for inventory/volume: The slight uptick in listings was encouraging, and indeed closed sales in 2025 inched above 2024’s total (4,044 vs. 3,988, about +1.4%). But sales levels are still about 20–25% below what the county used to see in a typical year before 2023. If you’re wondering why fewer homes are changing hands despite high demand — it’s because there’s an ongoing inventory crunch. This dynamic keeps upward pressure on prices and leaves many buyers scrambling for the limited opportunities.
Homes Sell at Lightning Speed (Again)
If you’re a buyer hoping to “take your time” shopping, think again: houses in 2025 continued to sell remarkably fast. The median days on market (DOM) for sold homes was just 6 days — essentially unchanged from the 5–6 day median DOM we’ve seen since 2021. This means that half of all homes were under contract in under a week of listing! By comparison, in more balanced markets a median DOM of 30–60 days is common. Onondaga County in 2025 was far on the extreme end of quick sales, a clear indicator of strong buyer demand and limited supply.
Even the average days on market was only about 18 days (roughly the same as the past few years). Many homes listed during the busy spring/summer selling season would get multiple offers within the first few days of an open house and go pending in less than a week. Zillow’s data showed that as of Q4 2025, the median time to pending was around 8 days, and Redfin’s metrics similarly noted homes selling in 2–3 weeks on average (faster in mid-2025, slightly slower by winter). The takeaway is that buyers had to act decisively and quickly when a new listing hit the market.
Several anecdotes from local real estate professionals confirm this turbo-charged market pace. It’s common to hear of open houses packed with shoppers on the first weekend and offers coming in immediately afterward. Central New York agents reported that “most homes get multiple offers, often with waived contingencies” in such a competitive environment. That aligns with what we saw in Onondaga County: competitively priced homes in desirable areas often sold in a matter of days, occasionally even sight-unseen or purely from virtual tours.
It’s worth noting that toward the end of 2025, there were minor signs of the market time lengthening — for example, in November, the average DOM was around 24 days in Onondaga County (up from 17 days a year prior). This likely reflects the seasonal slowdown (winter months are always a bit slower) plus a slight cooling of buyer urgency compared to the frenzy of 2021–2022. But 24 days average is still very brisk, historically speaking, and the 6-day median tells the real story: the majority of homes that were priced right sold almost immediately. Only some outliers (luxury properties or over-priced listings) might linger for multiple weeks or more.
Bottom line for market speed: Onondaga’s housing market moved at a breakneck pace in 2025. Buyers needed to be prepared to tour a home and make an offer within days (if not hours) of it hitting MLS. Sellers benefited from quick sales — if their home was market-ready and priced competitively, it often went under contract in less than a week. This ultra-fast tempo has been the norm since 2021, and 2025 proved no exception.
Bidding Wars Slightly Ease — But Remain Common
Competition among buyers stayed fierce in 2025, though there are indications it wasn’t quite as overheated as the year before. In 2024, it was typical to see winning offers 5%+ over the listing price on average. In 2025, the average sale still came in at around 104% of list price (i.e. about 4% above asking), but that’s down a bit from the 105.5%+ of list seen previously. Zillow’s data showed a median sale-to-list ratio of ~1.045 (104.5%) in late 2025, and Redfin reported the county’s sale-to-list at 102.3% by November (down ~1.2 points year-over-year). In plainer terms, instead of bidding $20K over ask, maybe the typical buyer in 2025 “only” had to bid $10K–15K over ask to win — still a strong sellers’ market, but a notch less extreme than before.
We also saw a decline in the share of homes that sold above their asking price. Around 65–70% of all sales in 2025 went for over list price, whereas in 2024 it was estimated closer to 75–80%. By late 2025, just over 54% of homes were closing above list (compared to roughly 63% in late 2024). The flip side is that price reductions became a bit more frequent — about 21.5% of listings had a price drop before selling in 2025, up from ~17% in the prior year. This suggests that buyers were slightly more price-sensitive and not every home could fetch a frenzy-level price unless it truly justified it. In 2024, virtually any decent house would attract multiple offers over ask; in 2025, that was still usually the case, but a homeowner who overpriced their property might get pushback and need a price cut. “While the market is robust, overpricing can still lead to prolonged listing times and eventual price reductions,” one local real estate source cautioned.
That said, multiple-offer situations were absolutely still the norm in 2025. Desirable listings (in good condition, popular neighborhoods, etc.) often received many offers, driving the sale price above asking. It wasn’t uncommon for “hot” properties to sell for 10%+ over list. Redfin noted that the most sought-after homes in our area (“Hot Homes”) could go for around 6% above list and pend in just over a week. In fact, some individual sales in late 2025 show exactly that: e.g. a home in East Syracuse listed at $264,900 ended up selling for $305,000 (15% over ask) after 58 days; another in Syracuse’s Strathmore area listed at $169,900 sold for $194,250 (14% over) after just 9 days on market. Clearly, bidding wars are still a reality, especially for mid-priced family homes and any property in move-in condition.
The slight tempering of bidding intensity in 2025 could be due to a combination of factors: a bit more inventory, some buyers reaching their affordability limits (higher interest rates mean higher monthly payments, which cap how high buyers can bid), and perhaps buyer fatigue after years of frenzied competition. Nevertheless, from a seller’s perspective, 2025 was still highly favorable — the average seller achieved 104% of their asking price, and many got even more. From a buyer’s perspective, you still had to come in with a strong offer (often above list price) to have a chance, but there was a tad more room to negotiate on the most overpriced listings than before.
Bottom line on competition: 2025 remained very much a seller’s market, with the majority of homes selling above asking and often with multiple offers. The intensity cooled slightly compared to 2021–2022 highs, but buyers were generally still competing heavily for each listing. It wasn’t the absolute frenzy of bidding wars in every single case, but you should still expect competition on any attractive home. Sellers enjoyed strong leverage, though they couldn’t be quite as cavalier on pricing as in 2024 if they wanted to avoid sitting on the market. The market tilted a bit more toward equilibrium by year’s end, but it’s still far from a true balanced market.
Outlook: What Buyers and Sellers Should Know Heading into 2026
As we move beyond 2025, the Central New York housing market continues to evolve. Economic tailwinds (like the upcoming Micron technology plant and other local investments) are poised to keep housing demand solid in our region. At the same time, high mortgage rates and broader affordability challenges may act as a ceiling on how much higher prices can go in the near term. Inventory remains the wildcard — will more homeowners decide to sell in 2026, increasing supply, or will the shortage persist? Here are some key takeaways and tips for those looking to buy or sell in the coming year:
Tips for Buyers in 2026
- Be Prepared to Act Fast: With median DOM under a week, you should have your financing in order (pre-approval ready) and be prepared to schedule showings as soon as a home hits the market. Hesitation can mean losing out.
- Expect Competition (but set your limits): Homes are still often selling above list price, so it’s wise to assume you may need to bid a few percent over asking in a multiple-offer scenario. However, 2025 showed that extremely aggressive bidding has tempered slightly — you might not always need to go tens of thousands over ask as in 2022. Work with your agent on recent comps and set a firm budget limit so you don’t overextend yourself.
- Consider Timing and Strategy: More inventory tends to come on in spring and summer, but that also brings out more buyers. If you’re flexible, hunting in the off-season (late fall or winter) might mean slightly less competition, though choices will be fewer. Also, be open to neighboring areas or slightly older homes that may be less picked over. A willingness to do some cosmetic updates can expand your options.
- Don’t Skip Due Diligence: In the height of frenzy, buyers were waiving inspections to win homes. While the market is still hot, whenever possible get a home inspection and protect yourself. The slight cooling in 2025 means you may have a bit more leeway to include normal contingencies, especially if you’re the only offer. Protect your interests even as you move quickly.
- Monitor Mortgage Rates and Get Creative if Needed: Higher interest rates have made monthly payments more expensive. Keep an eye on rate trends — if they dip, it could boost your buying power (and competition). In the meantime, explore options like rate buydowns or adjustable-rate mortgages if they make sense, and remember you can refinance later if rates fall. Importantly, factor the current rates into your budget so you’re comfortable with the payment on any house you bid on.
Tips for Sellers in 2026
- It’s Still Your Market — But Price Wisely: Sellers continue to hold the advantage of high demand and low supply. If you list your home in good condition, you’re likely to attract strong interest and a fast sale. However, buyers have become slightly more price-conscious, so avoid overpricing from the start. Homes priced too high might not receive offers and could require a price cut later (over 21% of listings needed a price drop in 2025). Work with your Realtor to set a realistic price that will spark competition. Remember, a competitively priced home can bid up over asking, whereas an overpriced home can languish.
- Market-Ready Homes Sell for a Premium: Take advantage of the buyer demand by making sure your home is well-presented. Little things like fresh paint, professional staging, and addressing minor repairs can result in significantly higher offers (and multiple bids). In this market, many buyers are stretched on what they can afford, so a move-in-ready property is extremely appealing — they’ll pay top dollar for it.
- Leverage the Timing: Listing in spring or early summer will expose your home to the largest pool of buyers, as that’s when activity peaks. Given the Micron project and other developments, 2026 could see an influx of new buyers in our area. Coordinating your sale to hit that window could maximize your price. That said, even in winter the market has been active (just with slightly longer DOM), so list whenever it suits your needs — just avoid the trap of waiting for a “perfect” market peak, since we’re already at very strong conditions.
- Anticipate the Next Step: One challenge for sellers in a low-inventory market is, “Where will you go after you sell?” If you’re selling your primary home, line up your next living arrangement (whether buying another home, renting, etc.) because your house may sell quickly. Some sellers negotiate a post-possession agreement to stay in their sold home for a few weeks or months after closing, giving time to move — this became common in the past couple years. Plan for this so you don’t end up scrambling when your home is under contract in 3 days!
- Capitalize on the Seller’s Market, But Stay Flexible: With multiple offers still common, you can often be selective about terms — for instance, you might choose a cash offer or a buyer with better financing even if it’s not the absolute highest price, to ensure a smooth close. However, don’t let greed take over. If you get a strong full-price (or above) offer quickly, that’s the market telling you the price is right. Trying to push for significantly more, or rejecting solid offers in hopes of a windfall, can backfire. In 2025 we saw that homes still need to be appraisal-friendly and buyers have limits. Partner with your agent to evaluate offers holistically (price, contingencies, buyer qualifications) to make the best decision.
In summary, 2025 was another banner year for the Onondaga County housing market — sellers achieved record prices and quick sales, while buyers had to navigate intense competition and rising costs. The market shows some early signs of normalizing, but it remains tilted heavily in favor of sellers as we enter 2026. For buyers, patience and preparation will be key; for sellers, it’s an opportunity to capitalize on your equity gains, provided you approach the market thoughtfully. Central New York’s real estate has proven resilient even amid national headwinds, and our region’s growth and relative affordability bode well for continued strength. Whether you’re buying or selling, staying informed on these trends will help you make the most of the current market conditions. Here’s to a successful 2026 in CNY real estate!
Contact Me
Robert Zaccaria
Associate Real Estate Broker
Finger Lakes | Sotheby’s International Realty
Phone: 315.436.1298
Email: [email protected]
Linkedin: https://www.linkedin.com/in/robertzaccaria/
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Bio: Robert Zaccaria is an Associate Real Estate Broker with over eight years of experience in the Central New York market. Known for his consultative approach and financial insight, he has advised buyers and sellers across hundreds of transactions, earning a reputation for thoughtful strategy, strong advocacy, and sound judgment.
Prior to real estate, Robert served as a Senior Analyst on GE Capital’s Market Intelligence team, where he worked in an internal consulting role analyzing markets, evaluating risk, and supporting strategic and investment decisions across multiple business lines. He began his career in GE’s prestigious Financial Management Program (FMP), an intensive two-year leadership development program spanning four rotational assignments. Today, clients benefit from this background through data-driven guidance, actionable market insights, and disciplined pricing and negotiation strategies that bring clarity and confidence to complex transactions.
In addition to real estate, Robert is the co-owner of Noble Cellar, one of Central New York’s most acclaimed fine-dining restaurants. Building an award-winning hospitality brand from the ground up refined his understanding of service, presentation, and experience. These qualities naturally extend to how he represents homes and cares for clients. His approach balances precision and professionalism with warmth, attentiveness, and genuine connection.
Robert holds a Master of Public Administration from Syracuse University’s #1 ranked Maxwell School, a Bachelor of Science in Finance and Marketing Management (summa cum laude) from Syracuse’s Whitman School of Management, and a professional certificate in Real Estate from NYU’s Schack Institute of Real Estate. He is a past recipient of the Greater Syracuse Association of Realtors’ Shining Star Award, a distinction awarded annually to one agent across the region for excellence in professionalism, service, and community leadership.
Highly communicative and detail-oriented, Robert serves as a trusted advisor throughout every stage of the process. Whether navigating a competitive acquisition or positioning a property for maximum value, he brings calm judgment, sharp negotiation skills, and a level of care that allows clients to move forward with confidence.
44 East Genesee Street, Skaneateles, New York, 13152 United States
