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Home Sales in April
John Antetomaso, REALTOR®
President, GRAR
May 17, 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 April.
As we’ve encouraged current homeowners, people looking to sell, individuals in the market to buy, and members of the media to be optimistic of the local real estate market, our instincts were proven this past week when amid the national housing crisis, Money Magazine ranked Rochester #2 on their list of Top 10 Fastest Growing Real Estate Market in the U.S. An article of this nature just goes to prove real estate is in fact local.
In April, there was a 16.1 percent increase in homes listed for sale as well as a 27.9 percent increase in monthly closings compared to the previous month according to statistics released by the Genesee Region Real Estate Information Service (GENRIS), the information subsidiary of GRAR. The median sale price for our area is also up 7.4 percent to $118,000 as compared to last month and up 4.4 percent from a year ago.
Some of our surrounding counties that saw positive activity in regards to year-to-date monthly closings last month are up again with Wyoming increasing 45.5 percent, Yates up 41.9 percent and Livingston up 6.5 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 April: Click here for April Stats
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.
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GRAR urges you to contact a REALTOR® today to learn more about why now is a great Time2Buy. Click here to learn more.
*A first time buyer is defined as anyone who has not owned a main home in the last three years.
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