First weekend of the month and time to take a look at what’s happening in real estate. Inventory remains low, as do the interest rates. We are seeing a glimpse of more listings this past week so it looks like a more balanced market is on the way. Here’s what the Penfield Housing stats look like:
95 homes are listed as active with an average list price of 300k.
21 homes were listed as “under contract” in the last 30 days with a median price of 199k. Average days on the market in Penfield NY? 5! When a home is in excellent condition, a great location and fairly priced, it goes fast. There are reports of many multiple offer situations and we’re not just talking about 1 or 2 offers, we’re talking about 8 or 10 offers all over asking. Fear not, preparation will meet opportunity, especially since we are seeing more homes listed and we’re great negotiators!
36 homes were recorded as sold in the last 30 days with an average sale price of 191k. 98% 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.
While the inventory has significantly decreased since this time last year, the number of homes sold remains steady. As expected, due to competition, the average sale price is up. We’ll continue to see more and more opportunities to make your move as the season progresses. Keep your mind open to possibilities. If you buy a home for a great price that is less than perfect, any renovation you do, with guidance of course, will bring you instant equity. We can help you through that process. Contact me today! Let’s make a move and make it happen!