· Frigid weather (the Polar Vortex kind) impacted home sales and there were less sales this quarter
· If you are considering selling your home now is the absolute best time as inventory is still low, sellers are receiving a high percentage of their asking price and in some cases multiple offers
· If you are buying a home, don’t panic that it’s a sellers market. Get preapproved, instead of pre-qualified and know that with these phenomenal interest rates, you’re still ahead of the game
·The median sales price remains stable for the area at 120,000.
These stats are based on the Greater Rochester Area, which includes more than one county. Let’s take a closer look at what’s happening in your neck of the woods. (#AlRokerFans).
20 homes were sold, and we saw a significant increase in the average sale price.
Of homes that were listed during this time frame, 18 homes have gone under contract with an average of 2 days on the market.
Currently there are 65 homes in Penfield, that are listed as active with an average sale price of 250K.
The last 30 days have shown us that homes that are priced at fair market value in excellent condition, do not last long! Are there multiple offers? Yes. If you’re making a home purchase, don’t panic, just be prepared. Get pre-approved and do your homework. Figure out what key areas you would like to be in and be ready when 90% of your criteria is met to make an offer. (Spoiler Alert—even when you build you don’t meet 100% of your criteria) It’s not really a market to play “Let’s Make a Deal”. We research the numbers daily on your behalf and we’ll give you the resources you need to make the right offer. Remember, new listings are popping up every day. Your home will be there.
If you’re thinking of selling, get off the fence! The time is now. We’ll make sure there is a roof over your head if your home sells quickly. We are well skilled in the area of negotiation and have your best interests at heart.
Now that the weather has broken and Spring has decided to stay, it truly is the year of housing opportunity. Your home may be worth more than you think. Contact us today and find out what it’s worth!