Hello, June is here! It’s the first Saturday of the month, so it’s time to take a look at Pittsford, NY real estate for the month of May. We’re seeing the same trend continuing as inventory remains low and demand is still high. Here’s where the numbers ended up:
In the last 30 days, 89 properties were listed with an average sale price of 425K. This is a substantial increase from last month, just more proof that the market is going to keep heating up with the season! When buying a new home, it’s also 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: 81 have already gone under contract with a median price of 375k which is an increase of 64 homes. This is yet another sign that we remain in a seller’s market. The average days on the market was 6.
Since April, 14 properties have sold with a median closed price of 268k at 98% 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. We represent experienced Realtors who can guide you through the process and help you put your best foot forward when the time comes.
If you own a home, it’s a great idea to understand its value whether you make a move or not. It’s one of the biggest investments you’ll ever make and it’s often the key to your financial future. Contact me today to get started!