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 August.
This past month there was a 23.4 percent decrease in monthly closings and a 10.6 percent decrease in homes listed for sale as compared to August of 2007 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 increased 0.2 percent to $125,000 from last month and remained flat compared to August of last year.
The surrounding counties of the Greater Rochester MSA, specifically Yates and Wyoming counties, continue to show positive activity in regards to year-to-date monthly closings with increases of 29.9 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.
These statistics reflect the real estate activity for the Greater Rochester and Finger Lakes region for the month of August.
The Greater Rochester Association of REALTORS® represents more than 3,000 real estate professionals in the Genesee and Finger Lakes region. 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.
