Rochester Area Market Conditions

Rochester area residential home sales had the highest volume of pending listings since last May with 208 homes going under contract in March, double the number in February and an increase of 27.6% over last March.  It’s too soon to tell whether this is indicative of the normal annual spring uptick or the result of heightened activity in response to the approaching deadline for the Home Buyer Tax Credit.  Homes with binding purchase agreements signed by April 30 which close by June 30, 2010 may qualify.  The National Association of Home Builders has a great website with an overview of the program and FAQs for first-time buyers and repeat buyers. 

The median list price for the homes that went under contract in March was $150,000; average market time was 104 days, the lowest average since last August.   March’s sales activity brought first quarter home sales on par with the first quarter of 2009.

 There were 1283 active listings in March, an increase of 17% over February and 14% over last March. New listings (422) were up 48.6% from the previous month and 25.6% from a year ago.  There were 130% more new and back on the market listings in March than came off the market going to pending.

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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