Happy New Year! It’s the first Saturday of the month so you know what that means; it’s time to take a look at the Home Values in Rochester, NY. Make it a resolution to know your numbers. Whether you’re planning on buying, selling or staying where you are in 2016, it’s always a good idea to understand your numbers. After all, your home is one of the largest investments you’ll ever make and it could be worth more than you know. Let’s take a look at some recent numbers in Rochester, NY:
Currently there are 2018 properties listed as available with a median sale price of 129k. 435 of those homes were listed in the last 30 days. Inventory remains a little low, but we’ll see those numbers increase throughout January. If this is the year you’re making your move, list now and avoid the competition!
In the last 30 days, 57 properties are under contract, with a median sale price of 115k with an average of 3 days on the market. Well maintained properties in excellent condition, move fast! Be ready and be pre-approved.
In fact if we look towards 2016, here are some of the trends we expect to see according to MarketWatch.com
- Interest rates will increase gradually.
- Home prices will remain steady due to affordability factors.
- Millennials (18-34 years old) will be looking to buy a home.
- Fewer homes may be available in some areas
- New mortgage loan products will become available.
What do these trends mean to you? It depends on whether you’re buying or selling and where you live. If you have 30 minutes, we have the numbers you need to understand the value of your home. The market report is free and it’s all part of our commitment to research the numbers daily and provide our clients and our residents with relevant real estate and community resources. Contact us today!