Upstate New York housing speeds ahead as five metro areas rank among nation’s fastest markets in July
Rochester and Albany post median days on market of eight and nine, as demand tightens across five upstate metros.
Five upstate New York metropolitan areas were among the fastest-moving housing markets in the United States in July, Redfin reported. Rochester and Albany led the charge, with single-family homes spending a median of eight days on the market in Rochester and nine days in Albany, placing them in the nation’s top 10 for speed of sale.
Syracuse, Buffalo and Binghamton also earned spots in the top 50, with Syracuse homes selling in about 16 days. The pace comes despite weather patterns from the Great Lakes that can cast gray skies across the region, a factor that has not dampened buyers.
The surge reflects the pandemic-era supply crunch that reshaped even smaller metros. Fewer listings have meant heightened competition, including all-cash offers and waived inspections, as buyers race to close.
In Onondaga County, where Syracuse is the hub, the average home now commands more than $312,000 — an 8.6% increase from a year earlier. The numbers illustrate how prices have followed the frenzy.
For buyers, hesitation can mean watching another property go under contract in days. The region has left little room for extended shopping, reinforcing the urgency to move quickly.
The Redfin findings highlight a broader trend: demand has expanded beyond New York City, reshaping housing options across upstate markets. The shift has buoyed the region’s real estate outlook even as mortgage rates fluctuate.
Real estate professionals say the market is likely to stay tight as long as listings remain scarce and demand remains strong, suggesting continued price growth in many upstate communities. The latest data show five upstate metro areas among the country’s fastest sellers in July, underscoring a major shift in the regional housing market.
