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Realtors report: Buyer demand still strong when the right house is available.

Byline: Kevin Oklobzija

Despite a continuing shortage of homes on the market, buyer demand remained strong in the first quarter of 2019, according to the latest Marketwatch Report by the Greater Rochester Association of Realtors (GRAR).

Available homes for sale in the region fell 10.1 percent to 2,642, while closed sales fell 9.3 percent to 850. The area includes 14 counties in the Finger Lakes and Southern Tier regions.

That sales declined at a lesser rate than the drop in houses for sale indicates strong buyer demand, the GRAR report says.

"If your property is properly prepared and accurately priced, it will sell," GRAR president Andy Kachaylo said in a news release.

In Monroe County, closed sales fell 1.3 percent to 1,483 year-over-year, while the median sales price rose 6.2 percent to $138,000. Closed sales dropped significantly year-over-year in Ontario County (19.7 percent, to 208) while the median sales price climbed 8.2 percent to $159,000.

Closed sales (86) also fell by double digits in Livingston County (14.9 percent), while the median sales price jumped 13.6 percent to $130,625.

For individual communities, Macedon in Wayne County saw the largest rise in median sales price, up 26.5 percent to $158,000 on 15 closed sales.

In Monroe County for communities with at least 25 closed sales, Henrietta saw the highest year-over-year rise in median sales price, up 10.3 percent to $161,000 on 76 closed sales. There was a 9.9 percent spike in Webster to 192,900 on 95 closed sales, and in Gates the median sales price rose 8.1 percent to $118,950 on 76 closed sales.

The greatest decline in median price came in Parma/Hilton (17.9 percent to $154,000 on 39 closed sales), followed by Sweden/Brockport (13.4 percent to $138,200 on 28 sales) andPenfield (10.2 percent to $195,750 on 68 closed sales).

The arrival of spring means more houses on the market, but there will be fewer new homes compared to a year ago. Building permits for single-family homes dropped 6 percent in the Rochester metro area (to 108) in February, according to the National Association of Home Builders. Multifamily permits fell by triple that rate (18 percent) to 102.

koklobzija@bridgetowermedia.com/(585) 653-4020

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Publication:Daily Record (Rochester, NY)
Date:Apr 17, 2019
Words:398
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