October Real Estate Report

November has arrived, and before we know it the holidays will be here! As we embark on the snowy season, let’s look back at last month’s real estate report in order to predict where the market is headed. It is starting to look like we are continuing on a path toward a more balanced market, but let’s dig into the details (for a full 3rd quarter report, check out the Greater Rochester Association of Realtors!)

Active

Currently, 145 properties were listed and are still on the market with a median sales price of 300k. The inventory has seen a big spike from September; an interesting turn of events since inventory went down in August.

Pending

In the month of October, 136 properties are now under contract with a median price of 224k. Houses continue to stay on the market for an average of about 10 days; about the same as last month. Think about listing your home and having it sell in less than a month; what more could a seller ask for?

Sold

Currently, 29 homes have been closed with a median sales price of 204k for Monroe County. This number is about the same as last month; another sign that things may finally be stabilizing in the real estate market.
If you’re concerned about making your move while the holidays are approaching; don’t be! Selling during the holidays has its perks; like the fact that only the serious buyers will be looking to check a house off of their Christmas list (and also a mortgage before interest rates go up).
Are you getting ready to make a move? I can help you get the process with a free home valuation so you know what to start looking for based on your unique situation. Contact me today get your real estate journey started!

Penfield is a lively town, located on the southern tip of Irondequoit Bay and just outside of the City of Rochester. Follow this blog to discover more of what our town has to offer; from great local businesses to awesome events, we'll cover it all!

Courtney Dudek Licensed Real Estate Salesperson

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