Hello, March! It’s the first Saturday of the month, so it’s time to take a look at real estate in Pittsford for the month of February. While the weather is constantly changing: snow, rain, sun, 70 degrees, the market has remained the same–inventory is still low, while the number of buyers who would like to enter the market is growing every day. Here are some highlights.
In the last 30 days, 158 properties were listed with a median sale price of 150K. These numbers have remained relatively steady since last month, the number just isn’t as high as we need it to be for all the buyers that are willing and ready!
Of homes listed in the month of February: 178 have gone under contract with a median price of 127k. The average days on the market was 19 which is lower than last month! Putting in a contingent offer is not an option in a market full of multiple offers. If you find something that you like, don’t wait!
It continues to be a seller’s market now, however, trending research indicates that towards the end of the year we will see a more balanced market and a slight increase in mortgage rates. While inventory remains low, you can still be proactive as you wait for your perfect house to hit the market (it only takes one!)
- Determine the value of your home. If you have 30 minutes, I have a free home value report.
- Determine your must-haves. Seriously, make a list of 10 items– when we find 8 of the 10, let’s put in an offer.
- Drive through neighborhoods. The best way to experience a neighborhood is to take a drive through it. There are so many great places to live in Rochester! If you’re looking for school district information, community amenities, I’m the source of the source.