July 2024 | Market Update
Market Update
Market Stats
As July comes to a close, it's time to delve into the insights from the data in the Rochester, NY real estate market.
Sales Price
Monroe County's median sales price has tapered off a few thousand dollars since last months peak.
Conversely, the median price per square foot is also following suit, going down two dollars since last month.
Inventory
Shifting focus to inventory, we continue to see a very low number of under 5003 homes for sale in July. This low inventory number is a key factor that influences the rest of the data we observe.
On average, homes in Monroe County are selling for 20.8% over the list price.
Days On Market
The median days on market still hover around a week from listing to going under contract. It highlights how quickly homes are being sold in the current market.
List Price
The list price has reached an all-time high, reflecting robust market demand, while the months' supply of homes remains exceptionally low.
Closed Sales
Closed sales in Monroe County remained low, with only 687 recorded for the month of July.
Conclusion
In conclusion, the real estate market in Monroe County continues to favor sellers, characterized by very low inventory. Navigating this landscape can be challenging, and my role is to serve as your guide. Please feel free to reach out with any questions you may have.
