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Home Sales in May

John Antetomaso, REALTOR®
President, GRAR
June 14, 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 May.

This past month there was a 3.6 percent increase in homes listed for sale as well as a 10.7 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 remained flat at $118,000 as compared to last month and is up 1.4 percent year-to-date.

Three of our surrounding counties saw positive activity in regards to year-to-date monthly closings for five straight months now; they are Wyoming, Yates and Livingston counties all increasing 62.1, 40 and 7.5 percent respectively.

The real estate market for the Greater Rochester and Finger Lakes region is unique in that while we may not experience the housing booms that have occurred 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 May:  May County Home Sales

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.