Hello, February! It’s the first Saturday of the month, so it’s time to take a look at real estate in Pittsford 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 as well! Here are some things that stood out:
- 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, 67 properties were listed with an average sale price of 484K. Lots of great activity during the holiday season means that sellers are ready to take on the 2018 buyers!
Of homes listed in the month of December: 20 have already gone under contract with a median price of 288k. The average days on the market were 25. More properties went pending in December than January– a new home wasn’t the first on peoples New Year’s resolution list, but this number will increase in the coming months, not to worry!
In the last 30 days, 15 properties have sold with a median closed price of 275k at 94% of the asking price! A new year, new home!
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 go under contract. A low inventory still remains which has some considering new construction. Builders are ready and willing with the latest floor plans. There are some great programs to help you finance your dream home, and we can help!
If you’re ready to get started looking for a home this February contact me today to help you get your house hunting adventure started!