Oneonta's real estate market is experiencing a price correction, with values down 9.1% from last year. Home prices have decreased 25.9% in the past month. With 7.4 months of supply, Oneonta's inventory levels remain relatively tight. Homes are taking about 99 days to sell, which is -11 days longer than this time last year. A significant 40.4% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 14.3% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Oneonta market with the affordability index at 235.4. Looking ahead, the Oneonta market is expected to maintain its current trajectory with relatively stable conditions.
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