July has finally arrived and we are in the midst of a beautiful(hot) summer! It’s the first Saturday of the month, so let’s take a look at what the Penfield Real Estate Market has to offer. There’s still low inventory which means that sellers are going to continue to have the upper hand in the market. However, there’s some hope for your buyers out there that things may start to take a turn! Let’s take a look:
Currently, 83 properties were listed and are still available with an average sale price of 290K. There has been a slight increase of homes listed in June over those listed in May.
Of homes listed in the month of June, 77 have already gone under contract with a median price of 240k. The average days on the market continues to be short and sweet, particularly for homes that have the 3 key factors: location, condition and a competitive price. This month the average was 17 days on the market.
Currently, 45 properties have sold with a median closed price of 236k at over 100% of the asking price! The number of closings went up from May to June, which reflects all of the movers that packed up and started to make their move in early spring.
What can we take from all of this? For one, it is certain that the number of homes on the market is starting to increase. We are hopeful this trend will continue into the fall market as well. Some may consider putting a home search on hold for another year because purchasing a home this month may not hit a closing date before school begins again. However, it’s important to keep in mind that many school districts will allow your children to start the school year with proof of a purchase contract. This is just one example of why it’s just as important to plan your move around the real estate market as it is to plan when your family will benefit from a move the most!
Ready to start the search? Contact us today and we can let you know what your options are!