It’s the first Saturday of the month! You know what that means! Yes, time to take a quick look at the housing report for Penfield. Here’s the good news. You just need to grab your coffee and read all the highlights. We’ve done the research for you! Here are some recent stats for Penfield:
Currently there are 103 properties listed as active with a media list price of 290k. Whoah, you say that’s a lot of houses. Comparatively, we’re usually at a higher level of inventory this time of year. If you are thinking of selling your home, you’ll get the best price now as there is less competition.
Currently 58 homes pending at an average median price of 199k. Average days on the market? 12! Yes, that’s right, 12 days. Keeping that the status of most properties is not changed until after the home inspection, that’s fast. If you want to invest in your future and buy a home, that’s awesome! You’re just going to need to be prepared, not only with a pre-approval from a trusted mortgage provider in the area, but also with an idea of what neighborhoods you like and what your non-negotiables are. Make a list of your top 10 must haves. If you see a home with 8 of the 10 or higher, make an offer. (#nohomeisperfect) Yes, it’s okay after only one showing. Yes, it’s okay to pay full price, especially when it’s listed with a reputable, licensed real estate agent who knows the area.
In the last 30 days, 21 homes have sold. The median sale price was 230k, which is actually a 15% increase over last month. If we back up the truck, we see that these transactions represent purchase offers from early winter and in some cases before the holidays when competition was not as fierce. The stats will change dramatically once the end of the month closing become a matter of record. Look for more details in next month’s quarterly report.
We’re in a seller’s market, which is great if you’re a seller. If you’re buying, be ready and be patient. “What’s for you, will not pass you” and it’s true. Interest rates are still at historical lows. The right house will be there and you will be glad you didn’t wait. In fact, if the right house isn’t there, why not consider building and put our experience to work for you.
If you’d like to keep up with the latest trends in your neighborhood, please take advantage of all of our resources.
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The spring market is here and we’re ready to guide you through it! Contact us today!