Utica currently leans toward sellers, with the market gauge indicating a seller’s market. Months of supply has climbed to about five months in this rolling three-month view, which is higher than a year ago but still not firmly in buyer territory. Homes are also spending a median of 35 days on the market, noticeably quicker than the longer timelines seen last year.
Prices have pushed higher over the past year, with the typical home value up about 10 percent and the median list price rising more than 12 percent. At the same time, fewer homes are changing hands, as the number of homes sold is down more than 30 percent year over year in this rolling period. New listings have dipped slightly compared with last year, while active listings are also somewhat lower, helping keep conditions tilted toward sellers even as inventory has loosened compared with earlier months.
Buyer activity shows a mixed picture, with pending sales down year over year but more than half of homes still going off the market within two weeks. Roughly 30 percent of recent sales closed above the asking price, and the average sale-to-list ratio sits a bit above 97 percent, so sellers are still achieving prices close to what they want. With these shifting trends in prices, inventory, and speed, both buyers and sellers in Utica can benefit from Agent Pronto’s help connecting them with a local real estate agent who understands this market.
