First Saturday and it’s Labor Day Weekend! Before we know it, everyone will be back at school and back to the basics! In honor of all things mathematical, we’ve got your numbers! Here are some recent Penfield Housing Stats.
Currently, 92 homes are listed as active with a median sales price of 295k. With interest rates still at historic lows, we anticipate a strong fall market for both buyers and sellers to make their move
83 homes are currently pending with an average median price of 230k and an average of 10 days on the market, which is not that long considering most a home inspection is done and negotiated in that time frame. Homes in excellent condition and priced at fair market value will go fast. It’s not a call to panic, it’s all to be prepared both on the buy side in terms of being pre-approved and on the sell side in making sure you present your home in its best condition.
In the last 30 days, 49 homes have closed. The median sale price was 210k, with 98% of sellers received their asking price.
These stats reflect all of Monroe County. When we add in surrounding counties, we still see some great numbers and a positive fall market. In fact, let’s take a look at why you might want to make your move this fall:
Buyers are serious
Truth be told, some buyers are just kicking tires and getting decorating ideas. The ones that are out in the fall usually have a goal of being somewhere for the holidays. Some of these buyers may still be around since the summer market and since they didn’t find what they were looking for, they are highly motivated.
New Construction Prices will increase
If you ever wanted to build your dream home, now is the time. Lower inventory, super low-interest rates and the general rising cost of construction materials each October are a great reason to get a plan to break ground now. Our team is extremely well versed in all things construction. Put our experience to work for you! And, contact our trust mortgage professional, Mike Monile to see what’s available in new construction loans!
As much as we hope that homes are priced to fair market value, some are over priced and still around when the leaves are starting to turn. Sellers who have been on the market awhile may be more receptive to negotiation. In addition, if investment is an option, some owners decide to liquidate their properties before year-end.
Each fall brings a harvest of listings that are ripe for the picking! Let us help us help you take advantage of them! Contact me today!