Market Conditions in Monroe County

The question on everyone's mind is if it's a buyer's or a seller's market in Monroe County.

The answer to this seems to be--a balanced market.  According to the GRAR and NAR, sales in the Rochester area haven't felt the impact that other areas of the country have been seeing.  Overall, at the end of 2007, sales "dipped" -5.7% and average prices gained 2.2%.  Looking forward to 2008 NAR forecasts 1.8% gain in prices and in 2009 a 3.5% gain.  Well priced units are selling on an average of 45 days for Nothnagle.

Stability in Monroe County is due to it's affordability, most people qualify for mortgages without resorting to some of the exotic solutions other areas have used to drive their markets.  With a gain in jobs or continued low mortgage rates, this trend should continue.  Housing affordability is projected to increase over the next period of time as well.

Bottom line, realistic sellers and buyers are taking advantage of a good market locally.

information used from both the GRAR and NAR