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The number of days that have passed since the beginning of the New York on PAUSE (March 23, 2020)
 There are times when missing a deadline might be a bit of good news. What happened? I missed my self-imposed deadline for posting to this blog yesterday. Why? I was too busy with client appointments. It almost felt like a normal day in real estate. Good times! What’s really odd about my being so busy is that nothing has changed under NY on PAUSE since May 15th. Nothing. Not-one-thing. And yet the local real estate market has picked up speed. Home buyers and home sellers want to act. Real estate agents want to serve their clients. Momentum is growing.. It’s safe to engage in the real estate market but you’ll have to beware of the pitfalls and you’ll have to assert yourself. I’ll give you some guidance. As always, I am available to talk privately with you about your particular real estate situation. Call, text or FaceTime: 585-732-1767. Email: romecelli@realtor.com I host a weekly Zoom meeting to answer your general questions about the local real estate market. Mondays at 8:00 pm EST CLICK HERE TO JOIN THE MEETING Meeting ID: 585 732 1767 Password: 954010 The real estate market continues to grow slowly but the rate of increase is going up. The number of single family homes, condominiums and townhouses listed for sale last week alone jumped by over 220 last week! Yes, that's over 30 new listings per day! Compare that to the first week of the shutdown when just about 10 homes were listed each day. On the other hand, compared to last year during the same week nearly 350 properties were listed. So, although the market activity if definitely up it's still no where near where it was last year. The success rate (the percentage of properties listed that have accepted an offer) this year is coming in at about 52%. At this point In 2019 the success rate was about 60%. So, overall, the market is not quite delivering the same results this year as compared to last year. Not bad, though, right?!
What are the immediate implications? The low inventory of properties for sale is a disincentive to buyers entering the market. You can’t buy what’s not for sale. Rising inventory is likely to draw home buyers into the market. When properties sell some of those home sellers transform into home buyers. One transaction creates another. How safe is it to engage in the real estate market? It’s safe but you’ll have to assert yourself if you want to avoid unnecessary risks. The primary risk of exposure is present when you are at properties in person. What to do? First and foremost, take all the precautions you already know about: wear a mask, wash your hands, disinfect, and, most important of all: stay away from others! There’s no reason you need to engage with others in person. None. Second, consult with me about your options. I have many ideas & techniques about how to stay safe and still maximize your results. In any case, make your concerns explicit. Don’t be afraid to push back if you are not comfortable with what you are experiencing. The information below includes single family homes, condominiums and townhouses located in Monroe County. 
Long term trend lines. The trend lines were obliterated by COVID-19. There are no trend lines worth projecting at the moment. Still, a look backwards can be helpful to measure the impact of COVID-19 on the local market. Homes for sale since January, 2017This graph looks at all "existing" single family homes, condominiums and townhouses listed for sale in Monroe County as of April 30, 2020. This information does not include new construction.
Newly Listed Properties Since January, 2017This graph looks at all "existing" single family homes, condominiums and townhouses listed for sale in Monroe County as of April 30, 2020. This information does not include new construction.
Months Supply of Properties Since January, 2017This graph looks at all "existing" single family homes, condominiums and townhouses listed for sale in Monroe County as of April 30, 2020. This information does not include new construction.
"Months of Supply of Homes For Sale" is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 50 homes on the market and 10 homes selling each month, there is a 5 month supply of homes for sale. 
"Pending Sales" Since January, 2017This graph looks at all "existing" single family homes, condominiums and townhouses listed for sale in Monroe County as of April 30, 2020. This information does not include new construction.
"Pending Sales" are noted in the database after the seller has accepted a buyer's offer and the buyer's only remaining contingency is completion of the mortgage process prior to the eventual closing and transfer of title. 
Closed Sales Since January, 2017This graph looks at all "existing" single family homes, condominiums and townhouses listed for sale in Monroe County as of April 30, 2020. This information does not include new construction.
Median Sales Price Since January, 2017This graph looks at all "existing" single family homes, condominiums and townhouses listed for sale in Monroe County as of April 30, 2020. This information does not include new construction.
The "median" is the "middle" value in the list of property sales prices. To find the median, the sales prices have to be listed in numerical order from smallest to largest. The "mode" is the value that occurs most often regardless of where it falls in the distribution. The median is very different from the mean. The mean is the average of the sales prices. It is easy to calculate. In other words it is the sum divided by the count. 
Our Status.
I will continue to post updates related to the metro Rochester real estate market during the coronavirus. The situation is changing rapidly. You deserve the most recent information about our real estate market from a source you trust. I wish you and your loved ones good health and good spirits during this unfortunate crisis! Yours, Rome Celli 585-732-1767 romecelli@realtor.com
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Rome CelliCelebrating over 35 years of commitment to real estates in every corner of our community!
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