Let’s take a look at what’s happening in real estate. Inventory remains low, as do the interest rates. It’s been awhile since days on market Rochester NY has hit double digits. Recently, we are seeing a glimpse of more listings so we are hoping a more balanced market is on the way. Here’s what the Monroe County Housing Stats look like:
In the last 30 days:
473 homes were listed with an average list price of 174k. Home pricing ranges from 16k to 1.9 million making the median price higher than it would be.
152 homes were listed as “under contract”. Average days on the market Rochester NY? 4! When a home is in excellent condition, a great location and fairly priced, it goes fast. There are reports of many multiple offer situations and we’re not just talking about 1 or 2 offers, we’re talking about 8 or 10 offers all over asking. Fear not, preparation will meet opportunity, especially since we are seeing more homes listed.
481 homes were recorded as sold with an average sale price of 135k. 99% of homes on average have received their asking price. Can you offer less than the asking price? Yes. Can you ask for seller concessions? Yes. However, understand in a competitive situation, your offer will not be as strong.
While the inventory has significantly decreased since this time last year, the number of homes sold remains steady. As expected, due to competition, the average sale price is up. We’ll continue to see more and more opportunities to make your move as the season progresses. Keep your mind open to possibilities. If you buy a home for a great price that is less than perfect, any renovation you do, with guidance of course, will bring you instant equity. Our team can help you through that process. Contact us today and let’s get started!