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GRAR reported its 2014 second quarter regional residential housing statistics at a press conference, which was held today at 1:00 PM.  For your convenience, we will continue to provide you with these documents every quarter at the same time that they are distributed to the media.  Please contact  Jim Yockel, GRAR chief executive officer, if you have any questions.

The Greater Rochester Association of REALTORS®
Releases 2nd Quarter Residential
Housing Statistics

HOUSING PRICES CONTINUE UPWARD CLIMB

 

ROCHESTER, NY - July 17, 2014 -  The Rochester metropolitan area saw property values rise again during the second quarter as the median sales price reached $130,000, an increase of 1.1 percent from the 2013 second quarter, the Greater Rochester Association of REALTORS® (GRAR) reported today.  Inventory remains tight, with 5.0 percent fewer homes on the market. There were 5,816 single-family units available in the second quarter as compared to 6,122 in the 2013 second quarter.  Sales declined by 235 units, (7.6 percent) from 3,079 to 2,844.

 

"The tremendous increase in pending sales during the second quarter shows that our housing market is picking up pace as we enter the typically active summer season," said Andy Burke, GRAR President, adding that pending sales had jumped by 34.1 percent compared to the first quarter. "REALTORS® in the Greater Rochester area are reporting that properties are moving more quickly, multiple offers are becoming more common and sellers are realizing a higher percentage of the asking price."

"We expect the growth in the median sales price to bring more sellers to the market, which will provide additional options for today's buyers," said Burke, noting that first-time buyers will benefit from favorable mortgage rates that are currently lower than a year ago.

"Buyer interest, especially in more rural areas, is gaining momentum," said Jim Yockel, GRAR CEO. "Year-over-year sales were up 18.2 percent in Victor, 25 percent in Macedon and over 23 percent in Hamlin." He added that several counties including Livingston, Wyoming and Yates had experienced both sales and price growth during the second quarter.

The Avon/Geneseo area posted the greatest increase in closed sales at 33.3 percent compared to a year ago and a 16.6 percent increase in median sales price to reach $157,950.

Click here to view the second quarter stats report.

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The Greater Rochester Association of REALTORS® represents more than 2,500 real estate professionals in the Greater Rochester and Finger Lakes region. GRAR supports the local residential real estate industry by promoting the benefits of home ownership and the benefits of using the services of a REALTOR® when buying or selling a home. Additional real estate information can be obtained by accessing the Association's website at www.HomeSteadNet.com.