Through the first eleven months of this year the CNY real estate market is best described as steady. YTD Closings of single family homes in Onondaga County are slightly ahead of last year's pace with 3,740 closed transactions versus 3,715 closed in 2013. Price gains mirror the unit count, up very slightly with the median sales price rising from $134,900 in 2013 to $135,000 this year. Projecting December closing at approximately 400 units representing a very modest increase over 2013. Total available inventory on December 1st, 2014 was up from 1940 units in 2013 to 2,048 this year, again a modest increase. These numbers represent a balanced market with a very slight edge to the seller in certain price ranges and towns/school districts.
Looking forward to next year these numbers represent positive news for anyone wishing to enter the market. Buyers will find several choices in most price ranges and sellers should have an active audience in all but the very high end. If you are planning a move next year visit our website at www.johnarquette.com to learn about values in your current neighborhood or the one you'd like to call you new home.
