Welcome, 2018! A New Year is here with great opportunities in real estate and in your community! (We’re a great resource for both!) It’s the first Saturday of the month which means it’s time to grab a cup of coffee and take a look at the Real Estate in Rochester and see where trends are heading. Here are the numbers:
In the last 30 days, 261 properties were listed with an average sale price of 140K. Some great activity during the holiday season means that sellers are ready for the 2018 buyers!
Of homes listed in the month of December: 79 have already gone under contract with a median price of 109k. The average days on the market was still 4. More properties went pending in December than November– a new home was definitely at the top of Santa’s list!
In the last 30 days, 539 properties have sold with a median closed price of 140k at 98% of the asking price! A new year in a new home! Very exciting.
As we move into 2018, we will see a slight shift to a more balanced market? While the overall days on the market has remained the same for Real Estate in Rochester in general, we are seeing a trends towards homes staying on the market a little longer and not as much of an increase in the median sales price. The weather will hinder some, but the serious buyers will be out and ready to take advantage of interest rates that still remain low. If you are thinking of making a purchase any time in 2018, now is the time to prepare and research the neighborhoods you’d like to be in, a mortgage payment you are comfortable with and the must have items at the top of your list. Once that January thaw comes as it always does, you’ll be way ahead of the game!
If you’re ready to get started or just need to understand the value of your home, contact me today!
Happy New Year!