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Oneida County Home Prices Surge in November—How Much Did They Rise?
Newly released data from Realtor.com for November reveals that home prices in Oneida County saw a significant increase compared to the previous month. The median home sale price climbed to $210,000, marking an 11.3% rise from October’s median of $188,750.
Looking at a year-over-year comparison, the increase is even more striking. In November 2023, the median home price was $180,000, meaning prices have surged 16.7% over the past year.
Breaking Down Oneida County’s Housing Market Trends
Realtor.com compiles real estate sales data from recorded property deeds, which means there is a delay of a few months in reporting. These figures do not include homes currently on the market and should not be directly compared to active listings.
If you're interested in a deeper dive into local housing trends, including neighborhood-specific insights, check out data.uticaod.com for more details.
Condominiums and Townhomes See Mixed Price Trends
The median sales price for condominiums and townhomes in Oneida County dropped by 12.8% in November, falling to $150,000 from $172,000 in October.
However, compared to November 2023, prices rose by an impressive 25.8% from $119,250.
Notably, no condominiums or townhomes in the county sold for $1 million or more during November.
Fewer Home Sales in Oneida County, But Prices Remain Strong
Despite rising home prices, the total number of recorded home sales in Oneida County fell significantly in November. Compared to November 2023, sales dropped by 53.3%, declining from 199 transactions to just 93.
Even with fewer sales, the total value of residential real estate transactions in Oneida County reached $20.6 million for the month.
How Oneida County Compares to the New York State Market
Across New York State, homes sold at a median price of $450,000 in November, reflecting a 0.8% decrease from $453,844 in October.
Statewide, home sales also saw a decline:
Total recorded home sales in New York fell 9.1% from 11,806 in November 2023 to 10,730 in November 2024.
The total value of all residential home sales in New York remained steady at $8.6 billion from October to November.
13.99% of all homes in New York sold for $1 million or more in November, up from 12.59% a year ago.
New York’s Single-Family Home Market
Median sales prices for single-family homes statewide fell by 1.5%, dropping from $429,029 in October to $422,488 in November.
However, compared to November 2023, the median single-family home price is up by 17.3% from $360,123.
New York’s Condominium and Townhome Market
Statewide, condo and townhome prices dipped 1.6%, with the median falling from $533,638 in October to $525,000 in November.
Year-over-year, however, prices increased by 3.8% from $505,666 in November 2023.
Oneida County’s Single-Family Home Market on the Rise
Focusing specifically on single-family homes in Oneida County, the market showed impressive price growth:
The median selling price reached $215,000 in November, up 12.9% from $190,500 in October.
Compared to November 2023, prices climbed 18.1% from a median of $182,000.
Unlike other areas in the state, no single-family homes in Oneida County sold for $1 million or more during November.
Why Median Prices Matter in Housing Reports
The median sales price represents the midpoint of all home sales, meaning half of the homes sold for more and half for less. It provides a more accurate market snapshot than the average sales price, which can be skewed by particularly high or low sales.
What’s Next for Oneida County’s Housing Market?
With home prices rising despite a drop in sales volume, it remains to be seen whether the market will cool down or continue its upward trend into the new year. Buyers should be prepared for higher prices, while sellers may find strong demand for well-priced homes.
For more detailed housing data in Oneida County and beyond, visit data.uticaod.com.
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