September Real Estate Market in Penfield, NY

Happy October! It’s the first Saturday of the month, which means it’s time to check out the Penfield, NY real estate market! As we change seasons, it’s a great time to think about changing your address. Here’s why:

Buyers are Serious
Fall market buyers are ready to be somewhere before the snow flies. They’ve usually done their research and their homework in getting pre-approved.
Sellers are Motivated
There are some sellers who may have missed the mark when it came to pricing their homes, and they’re still here!  Be careful, however, to understand market conditions. (Contact me.)   Don’t assume you’ll grab a house on clearance.  They may actually have the right price now!
Investors are Ready
In a fall market, we often see investors making changes in their portfolios before the year’s end. If you have ever considered investment properties as part of your financial portfolios, now is a great time to start your search.

Let’s see how the real estate market is changing.

Active

Currently, 68 properties were listed and are still available with a median sales price of 297k. The amount of inventory has had a slight increase since last. This could mean that the market is finally starting to return back to normal.

Pending

After September, 57 properties are under contract with a median price of 205k. The average days on the market is 5 as homes are still flying off the market. That being said, properties under contract, median price and days on market have all seen a slight decrease.

Sold

As of now,  homes closed with a median sales price of 251k. This number has seen a 19k increase since August.

If you are still in the market for a new home but haven’t found your dream home just yet, don’t worry! Good things come to those who wait. More listings are slowly making their way into the market, but the competition is still high. It is important to make sure that you are as prepared as possible when starting your home search by getting preapproved and having your real estate wishlist ready.

Are you ready to fall in love with a new home this season? Connect with me today to take the first step!

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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