Overpriced real estate market in Syracuse right now.

[unicus]

Originally Posted by ckhthankgod

Again, even with the tax rates, the median home price to median family income ratio is one of the best in the country in terms of affordability. You have to look at more than just property taxes when looking at housing and that varies by home owner.

Info from the First Quarter of this year: https://www.nahb.org/-/media/NAHB/ne...rank-q120.xlsx

According to the list, for the top 100 metros in population, the Syracuse area is 6th(33th overall out of 235 areas on the list).

That list is from the 4th section of this page, with the methodology below(includes median property tax rate): https://www.nahb.org/News-and-Econom...ortunity-Index

there are going to be some good deals next year. better to wait if buying. build up the credit and cash, and you are going to win long term.

that is my point.

people that are too anxious to buy, especially in this market, are going to over pay.

[ckhthankgod]

^ Again, What is this based upon? I’m really curious given the affordability of SFH’s, even in top school districts and the information in the NAHB Housing Opportunity Index.

Sure, people can wait, but a lot of the waiting may simply come down to the employment situation of the person or family.

Given your the range you mentioned in another thread of $200k at the low end and $400k at the high end, you can find a decent/nice home within that range anywhere in the area.

[ckhthankgod]

I was just speaking with an employee that put in for a home in the Phoenix area(Oswego County) at $20k over for a 1400 sq. ft/5 acre home home listed at $159k and actually got outbid. So, there appears to be some degree of truth to the title.

With that said, that still is likely comparatively low when looking at other areas.

Listings in that school district(just of the Liverpool SD/Seneca River/Onondaga and Oswego county line. It isn’t far from the shopping on Route 31 in Clay): https://www.cnyrealtor.com/index.php...ame.eq.Phoenix)

[bellafinzi]

How long have average sized new construction homes in Clay, NY been around $500,000? I thought since schools are lower rated than other districts like Fayetteville-Manlius, that home prices would always be more affordable.

I remember 15 years ago when large new construction homes in the Town of Clay were selling for $350,000.