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Home Sales In March

John Antetomaso, REALTOR®
President, GRAR
April 19, 2008

The Greater Rochester Association of REALTORS® (GRAR) is reporting on the market statistics in the Greater Rochester and Finger Lakes region for the month of March.

March typically marks a month in which the weather starts to take a turn for the better; this statement could also be applied to the real estate market. Last month there were nearly 7 percent increases in homes listed for sale as well as monthly closings compared to February 2008 according to statistics released by the Genesee Region Real Estate Information Service (GENRIS), the information subsidiary of GRAR. Purchase offers accepted also climbed 18 percent in March from February 2008.

Some of our surrounding counties have seen positive activity in regards to year-to-date monthly closings with Wyoming increasing 50 percent, Yates up 43 percent and Livingston up 10 percent.

The real estate market for the Greater Rochester and Finger Lakes region is unique in that while we may not experience the housing booms experienced elsewhere, we are also fortunate that we do not experience the dramatic decreases in sales either, as other parts of the country currently are. Interest rates remain low and real estate is definitely local. It’s still a good time to buy in the Rochester area.

The following statistics reflect the real estate activity for the Greater Rochester and Finger Lakes region for the month of March:
http://www.homesteadnet.com/pdf/Stats/grar2008marchstats.pdf

The Greater Rochester Association of REALTORS® represents more than 3,000 real estate professionals in the Genesee and Finger Lakes region. Additional real estate information can be obtained by accessing the Association’s Internet site at www.HomeSteadNet.com. Please contact the Rochester Home Builders’ Association for monthly statistics reflecting new housing starts and building permits.

Looking to sell or buy a home? Contact your local REALTOR® today who can provide you with the necessary expertise to make your experience a positive one. And, don’t forget to check out the most widely-accessed real estate website for local listings: HomeSteadNet.com.