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Penfield Real Estate Stats: January 2019

Believe it or not, January has already passed us, which means that the month of love is here! It’s the first Saturday of February, and we’ve got some fresh stats about what’s been going on in the Rochester Real Estate Market. Curious about what the past year has looked like as a whole? The Greater Rochester Area of Realtors just released their annual report, too. Here are some key takeaways about 2018’s market:
  • High demand for fewer homes made for much competition
  • As a result of that competition,  the median sale price increased to 140k
  • Sales overall were down slightly from this year compared to last year, however, looking at the bigger picture sales were still well ahead of 2014 and 2015.
Let’s take a look at how we started off this year……

Active

Currently, there are 36 homes on the market in Penfield; that’s almost 10 fewer homes than December! Out of the homes that are on the market right now, the median sales price is 355k, which is a small spike from 327k last month. With fewer homes on the market and an increase in the list price, sellers are well-aware that they have the upper hand. But not to worry, buyers this time of year are serious, and sellers know to take each offer they get into consideration.

Pending

There are currently 40 homes pending sale in Penfield with a median closed price of 173k. It looks like buyers aren’t afraid to negotiate the price down, as the original median list price of these homes is 175k.

Sold

In January, 13 homes were sold, which is a drastic decrease from 24 sold homes in December. But not to worry; willingness to go out in this chilly weather as a buyer is half the battle! There are currently 821 homes available in Monroe County, so there are still plenty of options to work with!

The brutal weather has kept some on the sidelines.  We’ll see more enter the game as the weather stabilizes and sellers can make the final touches in getting their homes on the market. If you’re looking for a winning strategy– be sure to contact me today!

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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