As I write this month’s Rochester real estate market activity update, the snow is falling and the weatherman is predicting 8 to 15 inches of snow. Needless to say, my teenage kids are ecstatic at the prospect of a good old-fashioned snow day tomorrow. A snow storm is usually not good for the real estate market, at least the few days following which gives us Realtors a chance to catch up on some much-needed paperwork.
November’s numbers showed a healthy improvement over last November with a 25% increase in sales (80 sales this November compared to 64 last November). New and back-on-the-market listings held steady with 154 new listings this November verses 155 new listings last November. Overall listing inventory was also largely unchanged with 935 active listings at the end of this past November verses 924 active listings November 2008. About the only number not to go in our favor was average market time. November 2009 had an average of 124 days versus 92 days on the market last November.
Is the market stabilizing? That is the million dollar question. Our absorption rate numbers climbed in just about every price range over the past few months which is somewhat normal as sales slow during the fall and winter markets. Stay tuned for my year end review and final appreciation/depreciation numbers next month.
For the latest in all the local real estate stats make sure to check out https://www.shawnburyska.com/real-estate-statistics.php
As always, a successful Realtor needs to understand the market, know how to market, and most importantly take the time with each and every client to really understand their needs and goals and then represent that client to the best of his/her ability. I strive to be that Realtor with each and every client. Let me know if there is anyone you know that could use my services. Your referrals are greatly appreciated!
Shawn Buryska ABR, CRS, GRI
Coldwell Banker Realty