Rochester Real Estate Market Continues Weakness in Price Cuts

Sales in the Rochester market fell to five homes sold over the past 30 days. In addition, the number of sellers reducing their listing price is still in the midst of a downward trend with two price reductions in the same time frame. All indications show that the trend may be coming to an end, meaning more price reductions over the next few weeks. The median sales price climbed to $195,000, up from last week's $165,000. In spite of the decrease in sales, a low two months of inventory signals that Rochester is a strong seller's market.

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Demographic facts about Rochester:

  • The average age of the population is 38 years old.
  • The area's health cost index score is 110.3. (100 = national average)
  • The area's commuter length breakdown is: <15 min (19.4%), 15-29 min (47.0%), 30-44 min (23.2%), 45-59 min (6.7%), >60 min (3.7%).

Data reported through 10/12/2016

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