First Saturday of the month and time to take a look at what’s happening in real estate. Spring has sprung with many buyers hoping to find a place to bloom where they’re planted. Inventory remains low and as a result we are seeing multiple offer situations and in some cases higher median sale prices. Here’s what the Penfield Housing Market looks like:
Currently there are 79 homes listed as active with an average sales price of 304k.
75 homes are listed as under contract with an average sale price of 215k. Average days on the market? 7! When a home is in excellent condition, a great location and fairly priced, it goes fast. There’s no need to panic, but there is a need to be prepared which includes being pre-approved rather than pre-qualified. Preparation also means that you need to clarify what your goals are and what you’re looking for in a home. If you make a list of 10 must have items and a home has 8 or 9 of them or you can add some of the items later, it’s go time. No worries about moving too fast because you’ve already done your research.
In the last 30 days, 18 single residential homes were listed as sold with an average sale price of 190k. 100% 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.
The internet provides so much data on the Penfield Housing Market , but it does not provide an accurate, real time picture of what those numbers mean. Only experienced real estate professionals can help you navigate current market trends and assist you in making the decisions that make sense (and cents) for you. As the season continues to progress, we’ll see more and more opportunities to make your move and we will be honored to help. Contact us today!