It’s the first Saturday in February! You know what that means–time for our Penfield NY Housing Report. It’s also time to grab a cup of your favorite warm beverage and a favorite blanket because it’s cold out there. Despite the frigid temperatures, we’ve got a red hot market on the way. We’ll tell you the scoop for the last 30 days with the Penfield NY Housing Report, but first, let’s take a look at the highlights from the GRAR 2016 Annual Statistics Report:
- Despite lower inventory, 2016 broke the record for number of homes sold in or area at 14,278. (The runner-up was 13,312 in 2005.)
- Prices held steady seeing a slight increase in the median sales price from 132,00 to 133,000
- Some areas saw explosive gains in the number of sales. East Rochester and Gates topped the list.
- Currently, pending sales are up!
Let’s zero in on the Penfield NY Housing Report. Here are the recent numbers:
67 homes are currently listed as active with an average median price of 300k
Of course, as we speak homes are being listed and sold but at least you get a rough idea of inventory. This number represents all of the homes in Penfield. Keep in mind that a home will usually remain as active until the home inspection is negotiated.
42 homes are under contract.
The median list price was 207k. When homes are in great condition and priced fairly, they move fast. No need to panic. Just be ready. Being pre-approved rather than pre-qualified, will make all the difference.
25 homes have sold in the last 30 days at a median sale price of 191k
These homes also sold at 98% of their asking price. With interest rates at record lows, we have seen many take advantage of great opportunities to make a move, even during a hectic holiday season.
Winter may find Jack Frost nipping at your nose but fear not. Making your move now before more competition in the spring will leave those less savvy, out in the cold. Contact me today and let’s get started.