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Home sales dip, median price rises in Q4

Area home sales decreased 0.5 percent in the fourth quarter compared with a year ago, the Greater Rochester Association of Realtors Inc. reported Thursday.

A total of 2,821 home sales closed in the quarter, down from 2,835 a year ago. The median sale price was $130,000, up 2.2 percent, GRAR officials said. 
Homes for sales fell 33.5 percent to 10,682 from 16,067. New listings were down 10.5 percent and pending sales were down 5 percent.
Sales for the quarter were down 8.1 percent in Ontario County and down 21.8 percent in Wayne County.
Sales were up in the following counties in the Rochester region:
• 3.6 percent in Monroe County;
• 6.5 percent in Genesee County;
• 4.9 percent in Livingston County; and
• 22 percent in Orleans County.
Sales in the city of Rochester were down 19.8 percent to 89. The average median home price was up 39 percent to $85,995. 
For 2016, closed sales were up 7.9 percent to 35,922. Pending sales were also up by 6.3 percent to 36,579, although the number of homes for sale was down 33.5 percent to 10,682. The median home price was up 1.4 percent to $129,850. 
“Even though the number of homes for sale has been declining, we saw a record number of sales last year,” GRAR president Linda Wilson said in a statement.  “Significantly greater sales occurred in many communities and in all directions of our 11-county region,” 
Building permits in 2016 for Monroe, Ontario and Wayne Counties totaled 1,308 single-family homes and 419 multi-family homes, the Rochester Home Builders’ Association reported. 
Monroe County had a decrease of 128 single family building permits in 2016 over 2015. Ontario County had an increase of 124 single family building permits and Wayne County had an increase of 40.  
(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail [email protected]


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