It’s the first Saturday of the month! You know what that means: time for the Home Values in Penfield Report. It’s also Labor Day weekend, so as you finish your last minute preparations to get everyone back at school, we hope you might just have an extra second or two to read the numbers. Grab a cup of your favorite coffee and let’s hit it!
In general, we’re seeing an increase in the average sale price, which is great news if you are a seller! We’ve also seen some of the lowest interest rates since 1971, which is awesome news if you are a buyer or someone who is selling and buying!
Once the kids are back into school and we adjust to our fall routines, we anticipate a strong fall market. Some reports indicate that the interest rates will rise slightly and this increase will motivate some to buy sooner than later. In fact that are some awesome reasons to make your move during the fall:
A. Stay Ahead of Mother Nature
You can get somewhere before the snow flies. Well, at least before it starts to pile up.
Mortgage interest and property taxes are deductible.
C. Buyers and Sellers are Serious
Spring is usually the busiest season, but Fall is not far behind. Those who are making a move are serious and not just out there window shopping.
Be sure to read the rest of the article from Realtor.com to get all the details.
Let’s take a look at the most recent numbers as they apply to Home Values in Penfield NY.
Currently there are 124 properties that are listed as active with an average sale price of 246k.
Currently 70 homes are under contract with an average sale price of 240k and an average number of days on the market of 20.
In the last 30 days, 50 homes have sold with an average sale price of 127k at 99% of their asking price.