Rochester, NY housing market

In Rochester, the typical home is worth about two hundred forty-five thousand dollars, and sellers still hold nearly all the leverage. Here is what that means if you are weighing a sale this summer. That typical value is up about 4 percent over the past year, steady rather than spectacular. What makes Rochester stand out right now is speed. The median home sells in about twenty-five days, so a well priced listing barely has time to sit. A big reason is supply. There are only about 407 homes for sale in the whole city, and even though roughly 464 new listings came to market recently, buyers are absorbing them almost as fast as they arrive. The clearest proof sellers are in control is that fewer than 5 percent of listings have taken a price cut. When almost nobody is cutting, homes are priced right and buyers are paying. One number looks softer than it is. The median list price is about two hundred thirty-five thousand dollars, below the typical value. That is not prices slipping. It means smaller, lower priced homes are the ones moving fastest. So if you are thinking about selling, price at the market from day one and you will likely have an offer within weeks. Overreach, and you join the small group that sits. For a free estimate of what your Rochester home could sell for right now, visit Home Value Pros dot com.