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Rochester NY Real Estate Market

By
Real Estate Agent with Babbitt Realty NYS# 30BA0740535

Looks like the intense competition for homes will be continuing again in 2023!

A recent listing in Gates for $144,900 had over 117 showings in 6 days and over 10 offers exceeding $200,000.  Another point on this property was it was dated.  It's a great market for sellers and a frustrating market for buyers.

There is nothing on the horizon to indicate a change in the inventory in the future.

Escalation Addendums to the purchase offers have become the norm.

Dan Hopper
Dan Hopper - Gold Way RE - Westminster, CO
Colorado Broker / Referral Services

Yes, there are still many markets that are dealing with this type of bidding wars... of course, I am one that will not allow escalations with the Sellers ... provide your Highest and Best offer right up front.  

Mar 25, 2023 11:56 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing, enjoy your weekend

Mar 25, 2023 12:55 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Thanks for sharing your market update with us. Buyers & sellers in your area would benefit from your services. Have a great day!

 

Mar 30, 2023 10:16 AM