Hello, There! First Saturday of the month, so we’re ready with the numbers for Monroe County NY Housing Stats. As an extra bonus, the 3rd Quarter Housing Stats were recently released by the Greater Rochester Association of Realtors, so we have those figures as well. Here are the highlights from Rochester and the surrounding counties:
- There have been 6,649 sales in 2016 (up 5.4%)
- Median sales price rose to 139,900
- Millennials at prime home-buying age, growing families and empty nesters have created a pool of serious buyers ready to act.
- Sellers received 94% of their asking price
Now, let’s look specifically at the Monroe County NY Housing Stats:
- In last 30 days, 779 properties were listed at a median list price of $135,000.
- 585 properties sold in the last 30 days at a median sales price of $128,000.
- In the last 30 days, there are a total of 113 properties listed as pending with an average of 10 days on the market.
What do the numbers mean to you?
We’re so glad you asked! The present real estate market is reflecting 2 key trends: the first is a continuation of super low-interest rates and the second is a shortage of inventory. As you may have guessed, the two are related in a sense that the low rates are bringing out even more qualified buyers. In addition, some are deciding to stay where they are and refinance. It’s important to realize that this type of market has its advantages for both buyers and sellers. For the buyers, rates are unbelievable. Yes, you may not have as many houses to choose from as you normally would, but if a house is priced fairly (we can help you determine that) and has 90% of the items on your wish list, you’re going to put an offer in whether there are 30 houses on the market or 300. It only takes one house to be the right one. If you’re a seller, you’re going to get top dollar for your home. Worried you won’t have a roof over your head? Fear not! Smart buyers will be flexible with possession if need be. Our team is well skilled at keeping a roof over everyone’s head. In the worst case scenario, you may have to move twice. It’s a small price to pay to be completely non-contingent, take advantage of great rates and not settle.
If you’re not sure if a move is right for you, we can help you decide. At the very least, it’s important to know what the value of your home is in any market. If you have 30 minutes, we have your numbers. Plain and simple with no strings attached. Contact us today!