Home Values in Fairport NY

2 Jan

ornate-1045572_960_720Happy 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 Fairport 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 Fairport:

Active

Currently there are 119 properties listed as available with a median sale price of 267k.  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!

Pending

55 properties are under contract, with a median sale price of 201k and with an average of 35 days on the market. Well maintained properties in excellent condition, still move fast! Be ready and be pre-approved.

Sold

business-163461_640In the last 30 days, 31 properties have sold.  The average sale price increased by 2% from November to December.  We’re seeing this increase in more than one area.

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.

mortgageWhat 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!