June has finally arrived! It’s the first Saturday of the month, so it’s time to take a look at what the Penfield real estate stats have to offer. We’re seeing the same trend continuing as inventory remains low. Here’s where the numbers land:
In the last 30 days, 59 properties were listed with an average sale price of 297K. This is an overall increase in the number of listings as well as median sales price! It’s certainly a seller’s market. It’s important that you find a mortgage payment you’re comfortable with. We’re happy to make a connection for you.
Of homes listed in the month of May: 86 have already gone under contract with a median price of 230k. The average days on the market was 5.
In the last 30 days, 23 properties have sold with a median closed price of 213k at 100% of the asking price! In fact, many sellers are receiving over the asking price as a result of multiple offers.
Continued low inventory remains a challenge. However, preparation will meet opportunity. If you are a buyer, you’ll need to be pre-approved and absolutely non-contingent. You may have to move a little faster than you anticipated, or be patient until the right property comes along. Keep in mind that the right house in the right location and in good condition can be worth making some upgrades. Don’t miss the opportunity, because a house may look tired at first glance. If you are a seller, you will get the best price now. It may mean that you consider alternate housing options in the short term.
If you own a home, make sure you’re aware of your property’s value; whether you’re planning to move or not. It’s one of the biggest investments you’ll ever make, so make sure you are in the hands of a trusted realtor! Contact us today to see where your real estate dreams can take you!