With the snow melting and the weather getting warmer, the Rochester real estate market continues to steam ahead!
Currently there are 1202 homes on the market in Rochester with an average list price of $248,700 and an average time on market of 151 days. In the last 6 months there has been 813 homes sold with an average sale price of $192,300 and an average time on market of 124 days, with 248 homes that are waiting to close.
Buyers are in a good position at this time, with the number of homes on the market they have a choice of homes, but as Spring approaches there will be more buyers entering the market place and competition for homes will increase. In addition, interest rates are still below 6%, so it is a good time to reconnect with your lender!
Sellers have some competition out there, to catch a buyers eye, the home has to be priced right for the current market and in the best condition possible, all little repairs completed and super clean for showings. If this is not the case, you risk not being considered by a buyers as it will not compare to the competition.
I forsee it to be a very busy Springtime in Rochester for buyers and sellers, contact your Realtor today to get started on the process of making your transition.
Friday, March 23, 2007
Sunday, March 4, 2007
Spring Market is Heating up!
As of today, there are 1080 homes on the market with an average list price of $250,813 with an average time on market of 170 days.
Despite the wintery weather, the market is in full swing with many out of town buyers already purchasing homes and people transitioning within the city. Rochester usually sees a large increase in home sales during the Spring and Summer months with Medical & Technology professionals beginning new jobs and training at Rochester's largest employers, Mayo Clinic and IBM.
Interest rates continue to hover around 6%, still historically low, which makes it a great time to make that move.
If you are planning on making a move this Spring/Summer, now is the perfect time to contact your Realtor to get started on the process.
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