The end of the year is quickly approaching! It’s the first Saturday of December so it’s time to grab your favorite holiday beverage and dive into the November housing stats for Rochester. Although Jack Frost may be nipping at your nose sometime soon, it’s still worth getting out and about to see what great house Santa may have in his sack. At this time of year, sellers and buyers really crack down on their wishes. So, let’s see what’s been happening!
Currently, 431 properties were listed and are still on the market with a median sales price of 155k. Although inventory has continued to decrease, this is perfectly normal for the winter months. As said before, this is one of the changes pointing toward a stabilizing market, so we are very excited to see how December unfolds.
In the month of November, 89 properties are now under contract with a median price of 139k, slightly higher than last month. Days on the market is steady at 3, which continues to tell us how fast houses are selling!
As we get closer to the new year, we will see the housing market start to shift with an increase in mortgage rates and modest inventory gains. According to Realtor.com, the road may be a little tougher ahead. This doesn’t mean finding your perfect home is impossible, though. If you zoom in on Rochester, NY, you will see that our market numbers are forecasted to remain steady. This doesn’t seem to be the case in other areas of the country! Be sure to contact us today so we can get your marketing off on the right track this year. Happy Holidays!