Rochester Housing Stats

Hello there!  First weekend of the month, so you know what that means.  Time to grab your favorite beverage and get the scoop before you head out on your next summer adventure.   The spring market brought a flurry of activity as buyers were on the hunt for the perfect home and faced some stiff competition because of the lack of inventory.  Fear not, the tables are starting to turn, or at least move to center a bit as more sellers are opening their pools, showcasing their landscaping and entering the market.  Here’s the latest in Rochester Housing Stats for Monroe County.

Active:

graph-963016_640Currently, there are 2235 properties listed for sale with a median sale price of 165k in Monroe County ranging from $5, 300 to 1.7 million.  Needless to say, there are opportunities in every price range.

Pending

In the last 30 days, 226 properties have gone under contract with a median sale price of $115k.  Number of days on the market?  3!  Yes, that’s right. Some houses sold in hours which is why it’s important to work with agents that are on top of their game. (#yourstruly)

Sold

In the last 30 days, 524 properties were recorded as sold with a median sales price of 135k.  On average, 99% of the sellers received their list price and some even received more.

If you’re considering buying a home which is a super wise investment, you’ll need to:

  1.  Get Pre-Approved

    checklist-911841_960_720None of this pre-qualification monkey business.  You just did your taxes.  Grab your paperwork and make a plan for a price range you’re comfortable with.  We work with a team of trusted professionals, and we’re happy to make a referral for you.

  2. Be Ready

    Most real estate professionals, at least the ones with integrity, want to create an environment where everyone wins and hence they price the home at fair market value.  It’s okay to offer full price , even when it’s only the 2nd home you have seen.  If it fits 8 or 9 out of 10 of your must-have criteria, pull the trigger.  Cinderella tried on the shoe.  It fit.  She didn’t keep shopping.

  3. Be Patient

    Even though the market is starting to balance out, you still may find yourself in a competitive offer situation.  Go ahead and take a swing.  You may hit a home run; you may have to sit back down.  Don’t worry, there will always be another chance to set up to the plate.  It only takes one to be listed to be the right one.

If you’re considering selling

  1.  Get Your Paperwork in Order

    Potential buyers are going to want to know the last time you had the furnace inspected, how old the hot water tank is, whether or not the roof is under warranty.

  2. Don’t Test the Market

    mortgage-295211_960_720Yes, it’s true.  It has been a seller’s market.  It’s tempting to see how high the price will fly.  Be warned, if it flies too high it will become an appraisal issue.  It’s best to price right and actually even consider a little lower than the average which will bring more buyers in more price ranges, wanting to compete for such value.  Guess what happens to the price?

  3. Condition is Important

    In some cases, it makes sense to sell a property as is, in most, it doesn’t.  Take the time to stage your home properly, get the extra leaves out of the bushes and add a fresh coat of paint if need be.  As more homes continue to enter the market, yours won’t be the only show in town.

It’s finally summer in Rochester and it’s an awesome time to make your move.  Contact us today and we’ll get you in the game!

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