Real estate data show high sales of homes
COUNTY OF YATS. As in most of the country, The Yates County market was very hot in the first half of 2021. Despite the continued tension in the real estate market, sales rose and average selling prices also rose.
“Listing activity was very low in the first half of the year … but the market is still active: homes are above asking price with lots of offers all paid for in cash,” said Brian Zerges, broker and CEO of Finger Lakes Premier Properties.
There were 49 new properties registered in the first quarter of 2021, up from 55 in the same period, according to information released by the Greater Rochester Association of Realtors. Despite this decline, closed sales rose 40 percent, with 56 closed sales in 2021, up from 40 in 2020. Average selling prices in the first quarter rose 69.3 percent from $ 135,000 in 2020 to $ 228,000 in 2021.
There were 92 new listings registered in the second quarter of 2021, up from 73 in 2020, up 26 percent. Sales were also up, with 53 closed sales up from 49 in the first quarter of 2020, up 8.2 percent. The average selling price in the second quarter increased to $ 181,000 from $ 179,500 in the same period last year.
This trend is also observed locally across the state. In the second quarter of 2021 compared to 2020, closed sales increased by 51.8 percent, the number of homes for sale decreased by 21 percent, and median selling prices increased by 32.1 percent.
While nationally some real estate hot spots have seen a recent downturn in demand, continued low local stocks, coupled with strong demand, continue to drive a robust real estate market.
“One can only guess how long this will last, but the pandemic and restrictions [combined with] The lack of international and national travel seems to be driving demand for Finger Lakers in general. So one can only guess, ”said Zerges, whose company specializes in lake houses.
In Schuyler County, the average home price in the first half of 2021 increased to $ 174,500, up from $ 131,527 in the same period in 2020. Overall, Schuyler had 114 homes on the list in the first six months of 2021, up from 145 in the first half of 2021. for the same period in 2020. Despite the decline in the number of homes for sale, 69 homes were sold in the first half of 2021, compared with 36 homes sold in the same period in 2020.
Hammondsports also saw an increase in their average selling price, from $ 175,000 in the first half of 2020 to $ 195,000 in the first half of 2021. This increase correlates with a decline in the number of offers, which rose from 30 in 2020 to 18 in the first half of the year. 2021 year. Despite the decline, sales actually rose: 13 in 2021, up from 9 in 2020.