Rochester leads New York's tightest housing market

"The Rochester metro has become New York's tightest housing market, with just 0.96 months of inventorythe lowest among all major metros in the state. The metro's relative affordability at a $249,900 median list price appears to be driving intense buyer competition, pushing the market into strong seller territory with homes selling in a median of 28 days. Rochester's 0.96 months of inventory stands alone among New York metros."

"The metro added 149 new listings during the week while 242 homes were absorbed. This imbalance between supply and demand continues to drain available inventory. The 28-day median days on market outpaces both the state median of 63 days and every other major New York metro. The 11% relisted rate remains below typical levels, indicating properties are finding buyers without returning to market."

"At $249,900, Rochester's median list price sits well below the $795,000 NYC metro median and the $595,000 state median. Among upstate metros, only Elmira ($179,900), Binghamton ($219,948), and Utica-Rome ($248,500) offer lower median pricesyet none match Rochester's buyer activity levels. Price cut activity reveals seller confidence in this competitive environment. Just 23% of Rochester listings reduced prices during the week, compared to 33% statewide. Meanwhile, 2% of listings increased asking prices, a relatively rare move that underscores sellers' strong negotiating position."

Rochester metro records just 0.96 months of inventory, the lowest among New York metros, driving strong seller conditions. Homes sell in a median of 28 days, far faster than the 63-day state median. The market added 149 new listings while 242 homes were absorbed, shrinking available supply. The median list price of $249,900 is significantly lower than the state and NYC medians, supporting intense buyer competition. Relisted listings remain low at 11%, and only 23% reduced prices versus 33% statewide. Estimated weekly sales near 215 continue to outpace new supply, maintaining upward pressure on inventory.

Read at www.housingwire.com