Cazenovia, NY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cazenovia, NY Housing Market Trends

With 2,767 people, 823 houses or apartments, and a median cost of homes of $271,240, Cazenovia real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cazenovia, accounting for 62.32% of the village's housing units. Other types of housing that are prevalent in Cazenovia include duplexes, homes converted to apartments or other small apartment buildings ( 18.28%), large apartment complexes or high rise apartments ( 16.32%), and a few row houses and other attached homes ( 3.08%).

People in Cazenovia primarily live in small (one, two or no bedroom) single-family detached homes. Cazenovia has a mixture of owner-occupied and renter-occupied housing.

The housing in Cazenovia was primarily built before 1939 ( 44.25%), making the housing stock in Cazenovia some of the oldest overall in America, although there is a range of ages of homes in Cazenovia. The next most important housing age is between 1970-1999 ( 25.26%), followed by between 1940-1969 ( 23.82%). There's also some housing in Cazenovia built between 2000 and later ( 6.67%).

Vacant housing appears to be an issue in Cazenovia. Fully 15.50% of the housing stock is classified as vacant. Left unchecked, vacant Cazenovia homes and apartments can be a drag on the real estate market, holding Cazenovia real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cazenovia Home Appreciation Rates

Cazenovia's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cazenovia during the period has been just 2.91%, which is lower than 80% of US communities.

Over the last year, Cazenovia appreciation rates have trailed the rest of the nation. In the last twelve months, Cazenovia's appreciation rate has been 17.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cazenovia were at 7.39%, which equates to an annual appreciation rate of 33.00%.

Relative to New York, our data show that Cazenovia's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$271,240

Cazenovia, NY HOME PRICES

> $1,224,000
1.0%
1.0%
$917,001 - $1,224,000
3.3%
3.3%
$612,001 - $917,000
7.2%
7.2%
$489,001 - $612,000
2.3%
2.3%
$367,001 - $489,000
22.3%
22.3%
$245,001 - $367,000
19.9%
19.9%
$123,001 - $245,000
38.3%
38.3%
$61,001 - $123,000
4.5%
4.5%
$0 - $61,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for NY

Value Relative To Nation

Number Of Homes And Apartments:
823

Cazenovia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
93.02% 3.03%
2
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,382 / per month

Homeownership Rate

Owners
38.9%
38.9%
Renters
61.1%
61.1%
Vacant
15.5%
15.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.7%
6.7%
1970 - 1999
25.3%
25.3%
1940 - 1969
23.8%
23.8%
1939 or Older
44.3%
44.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.3%
62.3%
Townhomes
3.1%
3.1%
Small Apt. Buildings
18.3%
18.3%
Apt. Complexes
16.3%
16.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
16.5%
16.5%
2 Bedrooms
30.9%
30.9%
3 Bedrooms
26.6%
26.6%
4 Bedrooms
20.6%
20.6%
5 or more bedrooms
5.3%
5.3%
0.0% 100.0%
% OF HOMES