For the first time in several years, homebuyers in Central New York are beginning to enjoy something they haven't had much of lately—more choices.

According to the latest housing market data from the Greater Syracuse Association of REALTORS®, the number of homes available for sale has reached its highest level since 2020. At the end of the second quarter, there were 1,883 homes on the market, a 46% increase compared to the same time last year.

So, does that mean our market is slowing down?

Not exactly.

A More Balanced Market Is Good for Everyone

Over the past few years, buyers often found themselves rushing to schedule showings, writing offers within hours of a listing hitting the market, and competing against multiple offers with very little time to think.

While today's market is still competitive, the increase in inventory is giving buyers a little more breathing room.

Instead of feeling pressured to make an immediate decision, many buyers now have the opportunity to compare a few different homes before submitting an offer—a welcome change after several years of extremely limited inventory.

A more balanced market creates a healthier buying experience without taking away the strength we've continued to see in our local housing market.

Sellers Still Have Every Reason to Be Optimistic

If you're thinking this means it's no longer a good time to sell, think again.

While inventory has increased, buyer demand remains strong and home values continue to appreciate. In fact, median home prices across Central New York were still up approximately 6% through the second quarter compared to the same period last year.

Well-maintained, properly priced homes continue to attract serious buyers.

The biggest difference today is that buyers may be comparing your home with a few more options than they were a year ago.

That's why presentation, pricing, and strategic marketing remain just as important as ever.

What Buyers Should Know

For buyers, this is encouraging news.

More available homes means:

• More opportunities to find a home that truly fits your needs.

• More neighborhoods and price points to explore.

• Slightly less pressure to make split-second decisions.

• The ability to compare features before writing an offer.

That doesn't mean it's time to wait, however.

Desirable homes that are priced appropriately continue to sell quickly, especially in sought-after communities throughout Central New York.

The Bottom Line

The Central New York housing market isn't shifting from a seller's market to a buyer's market overnight. Instead, we're seeing a welcome move toward a more balanced market—one where buyers have more choices while sellers continue to benefit from strong home values and steady demand.

Whether you're buying your first home, searching for your next one, or considering selling, understanding today's market conditions can help you make informed decisions with confidence.

If you're curious about what today's market means for your specific situation, we'd be happy to help you navigate your next move.