Syracuse, N.Y. — Home values rose in every ZIP code in a six-county region of Central New York last year, according to national real estate firm Zillow.
Zillow’s Home Values Index had data on over 140 ZIP codes in Cayuga, Cortland, Madison, Oneida, Onondaga and Oswego counties. Not one ZIP saw home values fall in 2022. Values were up by double digit percentages in more than half the region’s ZIP codes.
Increases ranged from a high of 19.9% in the 13409 ZIP code in Munnsville in Madison County to a low of 1.8% in 13471 in Taberg in Oneida County.
Across all six of the counties, home values increased an average of 11.6%. That’s the second-highest increase in the region in Zillow records dating back to 2000. The only year with a bigger jump was 2021 at 15.5%.
In Onondaga County, the three ZIP codes with the biggest value increases last year were 13108 in Marcellus, 13110 in Marietta and 13084 in LaFayette. Values in those ZIP codes all increased at least 17% from December 2021 to December 2022.
Countywide, the average home value in the 39 Onondaga County ZIP codes Zillow tracked was $225,255 as of December, up 4.2% from June, 12.9% from December 2021 and 26.1% from December 2020.
The big increases reflect the strong housing market of recent years. For much of that time, demand has been strong and buyers have been competing intensely for homes.
That has helped keep prices up, Realtors say. Even now, as demand begins to slow, the inventory of homes for sale remains tight, keeping competition stiff and prices rising.
There are some signs in the data of the recent slowing in sales. Home values fell in four of the ZIP codes Zillow tracked between June and December last year. They were flat in one other.
The increases in values were mostly in the single digits as well.
You can see all of the data on home values for 144 CNY ZIP codes in the table below. If you can’t see the table, click here to open this story in a web browser.
Zillow produces its Home Values Index using its own analysis methods. The measure draws from sale prices, but also analyzes new construction and homes that haven’t been on the open market recently.
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