Live in Penfield NY

Penfield Homes Report October 2017

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Welcome, November.  It’s the first Saturday of the month which means it’s time to take a look at the Penfield Homes Report for October 2017.  If you’re looking to be moved into a new home by the holidays, now is the time! Let’s take a look at how the market is standing:

In the last 30 days, 86 properties were listed with an average sale price of 272K.  It’s a slight increase from the number listed in September.  Trends are showing that we are headed toward a more balanced market.

Pending

Of homes listed in the month of October:  56 have already gone under contract with a median price of 222k. The average days on the market was 16. We anticipate that homes will stay on the market a little longer as a result of the balancing market; now that buyers have more to choose from, they can take more time picking their home!

Sold

In the last 30 days, 33 properties have sold with a median closed price of 210k at 100% of the asking price! Which means if you’re looking to sell a home soon, now would be an ideal time to get the most for your money!

As we hit the November market, wonder whether or not selling their home during the holidays is in their best interest.  That’s a great question. The answer is “Yes!” The most serious buyers are looking during the holidays and making a plan for the New Year.  Many company transfers and hires take place by the end of the year and people will need to find a new nest!

The PenfieldHomes Report this month shows trends of moving toward a more balanced market.  However, it’s important to keep in mind that our report only speaks to averages.  Location, condition, and pricing all play an important role and can vary from neighborhood to neighborhood.  If you have any questions, or you’re curious about your home’s value, contact me today and get a free market value report with no strings attached!

Home Values in Penfield NY

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leaves-57427_640 (1)Happy October! It’s the first weekend of the month which means it’s time for our Home Values in Penfield NY report. Knowing your numbers is always an excellent idea whether a move is in your future or not. Determining fair market value for your home (and we’re all about the “fair” part) can also help you with refinancing, home equity loans and in managing your assets for retirement.

Let’s take a look at what recent numbers indicate:

Active Listings:

Growing GraphCurrently there are 117 homes listed as active in Penfield.  The median sale price is 260k. Values have overall remained steady with some increases depending on the area and amount of inventory. Some of the active listings are new construction which will add to an increase in the median price.

Under Contract:

78 homes are currently listed as pending with a median price of 200k.

Sold:

homeIn the last 30 days, 28 homes have closed, with a median sale price of 190k and at an average of 98% of the asking price.

In general terms, the summer market has extended into the fall and it’s still going strong. While many suggest that Spring is the best time to put your home on the market, many will make a case for the fall as well.

a. Tax Breaks

b. Motivated Buyers and Sellers

c. Home for the Holidays.

With interest rates still low, making a move is worth considering, especially since your home may be worth more than you think it is, which by the way costs nothing to find out. What does cost you is waiting and not knowing your numbers. Fear not, we’re here to help.  Contact our trusted mortgage partner and then  Contact us and FALL in love with where you live.