ResalesRochester, New York Undergoes Rebirth
Local Realtors call Rochester, New York a charming, upbeat community with lots of momentum.
"Rochester is enjoying a rebirth," says Realtor Rochester, "particularly the EastEnd and High Falls areas, resulting in a changing housing stock with new loft style apartments and condos. Park/East Ave. area remains vigorous and ready-to-sell homes go quickly. It"s a seller"s market in many parts of the city."
Says Realtor Steve Vaisey, "As of April, 2003 the housing market in the greater Rochester area has entered into what is primarily a seller"s market. Inventory in the $100,000 - $200,000 price range, appears is still in short supply and has seen the largest demand and the most recent appreciation of value. The $200,000 - $300,000 price range is somewhere between a balanced market and a seller"s market and the $300,000 and up price range is primarily between a balanced market and a buyer"s market. The limited supply of good housing inventory and the demand for housing has created the seller"s market in the $100,000 - $200,000 price range."
Suggests Vaisey, "The lower interest rates of 5.50 - 6.50 percent have also helped to keep the demand for housing up. It is my opinion that with the present local economic conditions (corporate downsizing and limited growth) and as more inventory becomes available, the local housing market will most likely move into a more balanced market as we later move into the summer."
Realtor Earl Krakower says, "Inventory is light especially in single-family dwellings in the East/Park areas. In general, there is still a good selection to explore in many price points and styles. In addition to the award winning school systems...you"ll want to check out the wide variety of wonderful architectural styles that abound around Rochester and its surrounding suburbs."
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