“I expect to see an uptick in the number of homes for sale as we continue through 2025.
As new buyers enter the market, taking advantage of first-time home buyer grants, we should see an equal increase in the number of buyers. It’s looking to be an active 2025 housing market!
Buyers can prepare for the spring market by focusing on improving credit score, paying off debts and saving as much as possible to cover things like down payment, inspections, possible bank repairs, moving costs, etc. The best advice I can give to all buyers is to interview multiple real estate professionals, Realtors, lenders, inspectors, and choose the ones who are most responsive and informative! If you have the right team of skilled professionals on your side, the process will be a lot easier and more enjoyable for all!”
— Jennifer Hall,Howard Hanna, Liverpool
Jennie Chapin
“Our inventory is low currently. Homes are still selling with multiple offers, if they are priced correctly. We are seeing some appreciation in property. Things are looking good for the rest of the year; it’s good for sellers but it is harder on a buyer.”
— Jennie Chapin, Chapin Real Estate, Oneida
“I expect the market in 2025 to have a little more inventory than the past few years. Interest rates will stay between 6% and 7% for the year. We just dropped below 7% in late February!
Not only do I expect interest rates to stay between 6% and 7% this year, I see them going down to close to 6% toward the end of 2025. Home prices will remain steady but because of more inventory I don’t expect home prices to increase more than they already have for this year’s selling season. Sellers might have to be careful pricing their homes this year because the fall market wasn’t as robust with home prices as it was in the spring selling season of 2024. But the news on the seller’s side isn’t all doom and gloom. We are still seeing properties sell in Oswego County for much higher prices than pre-COVID. More banks have more money for first-time home buyers, which is helping them be able to get into the housing market which is always a good sign!”
— Connie Ryan, Century 21 Galloway, Oswego
Ed Fayette
“I’m very excited for the real estate industry in 2025.
I think is the first year that things will begin to normalize [after the COVID-19 years]. Inventory is still lower than normal, but a robust spring and summer should provide plenty of opportunities for buyers in the area.”
— Ed Fayette,Century 21 Galloway
“It’s really hard to say what things will look like in the future. I don’t know. I wish I had a magic wand and could make it better. Inventory is still pretty low and prices are still high. I can’t really say where it’s going. I wish I did, wish I knew. The Micron impact is more in the Clay area, but, yeah, it is going to affect everybody in a positive way.”
— Mary Barbano, Howard Hanna Real Estate, Camillus
Bill Galloway
“The real estate market is still extremely active, with 2024 ending with more sales than 2023. There is still a lack of homes for sale in our area as well as the whole real estate market. With the positive outlook with Micron this will be one of the hottest and most active real estate markets in the country.”
— Bill Galloway, Century 21 Galloway, Oswego
“I think it is going to be strong I still think there are many buyers out there than there are homes. I feel that it is still a strong market, it just kind of depends area by area. There are still multiple offers for many homes, if they are priced correctly. Interest rates are starting to come down a bit. I think there is a little trepidation from sellers because the uncertainty in Washington and how people are going to be able to buy many of their basic goods. Liverpool and any area in Clay is hot, hot, hot. The prices have really gone up in Liverpool. In the last year I’d say we are seeing a pretty consistent increase in prices. But there are others besides Micron. Other businesses are starting to be attracted by what they see as a great market, a great area for families. We really have everything that they need here. That is really going to increase housing prices I think for the next year or so.”
— Robyn Adams, Hunt Real Estate ERA, Manlius
Noelle Beckwith Salmonsen
“I believe the outlook for the real estate market in 2025 will be promising and has already shown signs of revitalization.
Mortgage rates are expected to lower some thus impacting affordability for buyers. With rental amounts remaining so high, I believe they will decide to buy instead of continuing to rent.
There is still an overall housing shortage so demand is strong and inventory will hopefully be on the rise again this spring especially because new home building is happening again. Those homes will add to the housing inventory available. Because of the change in leadership at the federal level, I believe many sellers will have gained confidence in the economy again and will be ready to make their next move.”
— Noelle Beckwith Salmonsen,Freedom Real Estate, Fulton, Hannibal
Sarah Hoefer
“The market in Oswego County is shaping up to be both competitive and promising. With steady growth in median prices and low inventory, buyers should be prepared for quick moves while sellers have a great opportunity to capitalize on their investments. It’s an exciting time for the area!”
— Sarah Hoefer, Century 21 Galloway, Oswego
Karen Hammond
“The first three months [of 2025] haven’t been the greatest. We’re still having a lack of inventory — there has been a lack of inventory for a while, but the weather has really put a crunch on things. What seller wants to list their house when they have to keep their driveway shoveled and you have people coming in with snowy boots and stuff like that? Sellers have just not been listing their house so inventory is even less than it has been. I do foresee with this weather improving in the next couple of weeks we’ll start to see the inventory go back up a bit in this area. I think there is still a tremendous amount of buyers out there, so sellers are still going to get their asking price or above. Interest rates are staying right about where they have been for the last year or so. I don’t foresee them dropping any time soon lower than what they have been. As long as a seller is pricing their house properly they are going to get their full value or a little above. I think things will continue as they have been for the last four or five years. We just need the weather to get better in this area. People are really thinking about buying a home because rental properties are very high in rent. It’s cheaper for a buyer to have a mortgage than it is to rent.”
