It’s the first Saturday in February! You know what that means–time for our Greater Rochester Housing Stats Report. It’s also time to grab a cup of your favorite warm beverage and a favorite blanket because it’s cold out there. Despite the frigid temperatures, we’ve got a red hot market on the way. We’ll tell you the scoop for the last 30 days, but first, let’s take a look at the highlights from the GRAR 2016 Annual Statistics Report:
- Despite lower inventory, 2016 broke the record for number of homes sold in or area at 14,278. (The runner-up was 13,312 in 2005.)
- Prices held steady seeing a slight increase in the median sales price from 132,00 to 133,000
- Some areas saw explosive gains in the number of sales. East Rochester and Gates topped the list.
- Currently, pending sales are up!
Let’s zero in on the Greater Rochester Housing Stats. Here are the recent numbers in the last 30 days:
467 homes were listed and are still available with an average median price of 140k
Of course, as we speak homes are being listed and sold but at least you get a rough idea of inventory. This number represents all of Monroe County and the City of Rochester.
Of homes that were listed in the last 30 days, 157 have contracts already.
The median list price was 145k. The current average of days on the market is 9! When homes are in great condition and priced fairly, they move fast. No need to panic. Just be ready. Being pre-approved rather than pre-qualified, will make all the difference.
These homes also sold at 97% of their asking price. With interest rates at record lows, we have seen many take advantage of great opportunities to make a move, even during a hectic holiday season.
Winter may find Jack Frost nipping at your nose but fear not. Making your move now before more competition in the spring will leave those less savvy, out in the cold. Contact me today and let’s get started.