The 3rd Quarter GRAR Housing Statistics are out and we’re on top of it! Here are the highlights in case you don’t want to read all of the article. (You’re welcome!)
The inventory is down.
The number of listings is down from this time last year, by 8.3%, but fear not. The number of listings since the end of September has increased by 9.6%.
Sales have increased.
When we compare last year to this year, sales are up by 8.4%; that’s 4,020 transactions compared to 3,708 during the same period last year. Webster, Irondequoit, Parma and Hamlin, showed the most gains.
The median sale price rose 6.7 percent to $136,000 and pending sales rose 3.9 percent. It’s looking like the 4th quarter will be strong. You can be in a new home for the holidays.
These statistics reflect all of the counties, but let’s take a snapshot of just Homes in Fairport NY in the last month:
58 homes are listed as active with an median sale price of 230k
Of homes that were listed in the last 30 days, 10 have gone under contract with a median price of 184,900 and in an average of only 3 days on the market. The good ones go and they go fast. No worries, we’ll make sure you’re ready to make an offer if you want to!
In the last 30 days, 43 homes have closed with a median of 185k at 98% of their asking price. There was an increase of 24% in the average sale price from September to October.
What do all these numbers mean to you?
Inventory is steadily increasing. If you are considering making a move (and perhaps a tax break) it’s an excellent time especially since we are seeing an overall increase in the median price of homes. If you are making a purchase, there are still great interest rates to take advantage of. If you didn’t find what you were looking for this summer, chances are, it’s coming to the market soon, and don’t forget that you can put our experience to work for you and build it!
Your numbers will really depend on where you live and the condition of your home. We are always happy to provide a FREE market trend report so that you can stay on top of the market too! And, it’s a great market so don’t wait! Contact us today and let’s get started!