March Real Estate Update for Rochester, NY

Real Estate Agent with Babbitt Realty NYS# 30BA0740535

The local market continues to be a seller's market!  This is primarily for 3 reasons.

Number 1 - the inventory remains low.  It has never rebounded from the 2006 levels.

Number 2 - There are more buyers in the market.  This is because of the millennials entering the market along with the baby boomer.

Number 3 - The interest rates continue to be at a all-time low.

It has been a tough market for buyers with limited funds to get their offer accepted because of multiple offers with escalation clauses.  Many times the cash offer is accepted with no bank appraisal or home inspection.

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