Rochester Area Market Conditions – February 2010

It’s February so it’s not too soon for crocuses and “for sale” signs to start popping up in front yards all over town.  New listings were on the upswing in the first month of the year, heralding the beginning of the spring market. 

 The number of total active listings in January, 2010 was up 44% over January, 2009.  The number of homes going under contract and homes that closed were down 15% and 16% respectively, and the median sales price was down to $149,000 from $153,400 for the same time period last year.  Average market time to pending increased in January to 140 days, just over 2 weeks longer than the last month of 2009 and 3 weeks longer than last January.

The supply/demand ratio reached its highest level since last January with just over 15-1/2 months inventory, a normal occurrence this time of year as more homes come on the market in anticipation of the spring selling season. 

For the latest in all the local real estate stats make sure to check out

Shawn Buryska ABR, CRS, GRI
Coldwell Banker Realty

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