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Homes sales up 9.6 percent in Monroe County in Q2

Monroe County home sales increased 9.6 percent in the second quarter compared with a year ago, the Greater Rochester Association of Realtors Inc. reported Thursday.

A total of 2,377 home sales closed in the quarter, up from a year ago. The median sale price was $133,450, down 1.1 percent, GRAR officials said.

New listings were down 10.6 percent and pending sales were down 19.8 percent.

The continuing shortage of available homes for sale, along with the increase in homes sales points to strong market demand, with buyers willing to pay what sellers are asking, GRAR officials said.

“Our market remains strong and the summer months are typically the busiest of the year,” said GRAR president Toni Connors, in a statement. “There is great opportunity for current home owners considering putting their residence up for sale with less competition from fewer listings.”

Added GRAR CEO Jim Yockel, “Favorable economic conditions, such as low interest rates, rising stock market valuations and dropping unemployment levels are encouraging signs. For those looking to make a purchase, affordability is still positive.”

In addition to Monroe County, sales were up 5.5 percent in Livingston County. The following counties in the Rochester region were down:

  • 7 percent in Genesee County;
  • 1.3 percent in Ontario County;
  • 21.1 percent in Orleans County; and
  • 2.2 percent in Wayne County.

The Rochester Home Builders’ Association did not have the number of area building permits issued during the second quarter due to a discrepancy in reporting among municipalities.

Rick Herman, the association’s CEO, said it was a strong quarter, helped by good weather and a low inventory of homes for sale, prompting homebuyers to look at new home construction.

He expects to solve the reporting issue later this year.

(c) 2016 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail rbj@rbj.net.


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