What’s The Real Estate Market Like In Penfield, New York?

As we’re still sticking to our New Year’s Resolutions as we wrap up the first week of January, something that might be on your list of goals in 2019 is a new home. Serious buyers are out already with a new home at the very top of their list, so let’s see what the real estate market is like in Penfield, New York!

Active

Currently, there are 48 homes on the market in Penfield; that’s almost 20 fewer homes than November! Of these homes, the median sales price is 327k, which is higher than last month. It looks like there are fewer homes out there, and the price is increasing given that this is a great time of year to start selling.

Pending

As of right now, there are 36 homes pending sale with a median of 185k. Just like there are fewer active homes, there were fewer pending homes in December by almost 20! The average days on the market in December was 17; a slight jump from 10 in November.

Sold

In December, 24 homes were sold, which is about the same amount of homes as in November. However, the median closing price increased from the month prior to 163k. In November, this number was at 305k! 

As you can see, a New Year means there will be new changes. Curious about what to predict for 2019? According to several articles, including this one by David Ramsey, here’s what’s trending in the real estate world:
1.  Home prices are steadily increasing
2.  Mortgage rates are reasonable, but increasing as well
3.  New construction is also predicted to increase.
4. Millennials are leading the way for buying homes.

Whether you’re looking to sell, buy or both in this new year, knowing the value of your home is crucial to taking the first step. So, what are you waiting for? Contact me today to get started! 

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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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