Syracuse, NY Housing Market Report

The Syracuse real estate market remains a competitive environment for buyers as of December 2025, characterized by a persistent shortage of available housing. With active inventory down 6.82 percent year-over-year to just 779 listings, the market continues to lean in favor of sellers. This supply crunch is reflected in the sale-to-list ratio of 1.01, indicating that the average home is still selling slightly above its asking price. While the market is not as frenetic as in previous years, the scarcity of options ensures that well-priced properties move quickly.

Price trends in the region show steady, sustainable growth rather than volatile spikes. The median home value reached $203,874 in December, marking a 4.72 percent increase over the previous year. Data from the last six months reveals a period of relative price stabilization, with values fluctuating by less than one percent between July and December. This suggests that while the upward pressure from low inventory remains, high interest rates or seasonal factors may be tempering aggressive price hikes, providing a more predictable landscape for participants.

Looking ahead, the Syracuse market offers a unique value proposition compared to national averages, but challenges remain. The increase in days on market to 45 days—an eight-day rise year-over-year—suggests that buyers are becoming more discerning and are no longer rushing into purchases without due diligence. Sellers should be prepared for slightly longer transaction timelines, while buyers may find a bit more breathing room to negotiate than they had a year ago. However, with rents also rising by 4.54 percent to a median of $1,588, the financial incentive to transition from renting to owning remains strong for those who can find available stock.