It’s the last week of July, we’re heading into the last month of the summer, and it shows. The Rochester area housing market continued along at a slower pace, with 37% fewer homes under contract last week compared to a year earlier and 53% fewer closings than the same period of 2009. New listings were down nearly a third over a year ago, but continued to outpace homes that had signed agreements by a third.
Total active listings are up 11% over a year ago, with 1237 residential properties currently for sale in Rochester. Average sold price for the 16 homes that closed last week was 96.7% of the asking price, just 92.4% of the original list price. Average market time for these homes was 81 days. Average market time for the 19 homes that had signed contracts last week was 156 days.