Hello, February! It’s the first Saturday of the month, so it’s time to take a look at the Penfield NY housing stats for the month of January. Since the 2017, year-end Greater Rochester Area Realtors report was just released, it’s time to take a look at that too! Here are some highlights:
- Across the Greater Rochester region, the number of homes sold in 2017 was down by less than 3 percent compared to 2016 despite a 12.4 percent decrease in homes for sale. The housing market, in terms of both existing homes and new builds, is strong and is expected to remain so in 2018.
- Housing demand was unaffected by mortgage rates rising in the latter half of the year. A 4 percent increase in Median Sales Price for the region ($130,000 in 2017, up from $125,000) also did not deter sales. Sellers received 95.2 percent of the asking prices, an increase of 1.1 percent relative to 2016.
In the last 30 days, 56 properties were listed with an average sale price of 287K. There is a slight increase in inventory as people are ready to make a move in 2018!
Of homes listed in the month of January: 39 have already gone under contract with a median price of 190k. The average days on the market was 22. These stats have remained steady from last month.
In the last 30 days, 14 properties have sold with a median closed price of 222k at 98% of the asking price! We saw a decrease in this number due to fewer people buying homes over the holiday season.
As is typical of our January numbers, we did not have as many closings. However, we’ll see an increase in February numbers as more homes went under contract in December than November. A low inventory still remains which has some considering new construction. Builders are ready and willing with the latest floor plans. If you qualify, there are some great programs to help you finance your dream home. We can help!
2018 is your year to make a move! Make sure that you have the right team by your side and contact us today!