"Home values in two Central New York counties grew at some of the fastest rates in the nation in December, according to data from Zillow. Home values in Oneida County increased more than 7.1% in December, when compared with a year earlier. That ranked No. 8 nationwide among the country's 500 most populous counties. In Onondaga County, home values rose over 5.5%, ranking the county 20th in the U.S. for home value growth."
"The numbers come from the Zillow Home Value Index, which reflects the typical value for homes in a given region in the 35th to 65th percentile range. The numbers are seasonally adjusted. Home values in Central New York have climbed sharply since 2020, when the Covid-19 pandemic first hit. Buyers have been facing a historically low number of homes for sale in recent years, which has contributed to rising prices."
"The typical home value in Oneida County is up more than 65% since January 2020. It's up more than 73% in Onondaga County. Trends like bidding wars, cash offers and waived inspections have become increasingly common, experts have said. Experts have also said there are signs the market may be starting to improve for buyers. You can see details of typical home values in New York counties among the nation's 500 most populous counties in the table below."
Zillow data show Oneida County home values rose more than 7.1% year-over-year in December, ranking 8th among the nation's 500 most populous counties. Onondaga County home values rose over 5.5% year-over-year, ranking 20th nationally. The Zillow Home Value Index reflects typical values for homes in the 35th to 65th percentile range and is seasonally adjusted. Home values in Central New York climbed sharply since 2020, with Oneida up over 65% and Onondaga up over 73% since January 2020. Low inventory has driven bidding wars, cash offers and waived inspections, though there are signs the market may be starting to improve for buyers.
Read at newyorkupstate
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