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The number of days that have passed since the beginning of the New York on PAUSE (March 23, 2020)
 As expected, Governor Cuomo said the Finger Lakes region including Monroe County will be allowed to partially reopen its economy as of this weekend under "Phase One" of the NYS economic reopening plan with limited construction, manufacturing and curbside retail. Real estate is considered "Phase Two" of the plan. It is unclear when Phase Two will begin. In this post I'll focus attention on an update to the weekly numbers associated with the real estate market in Monroe County and compare those numbers to last year. As with prior posts I will show you the number of properties listed for sale; the number of properties under contract and the "success rate". Summary: although not much is new on the surface I noted an interesting phenomenon this week worth mentioning to you. Just below the weekly update I give you a broad overview of the real estate market in our region since 2019. This overview includes Monroe County as well as surrounding counties. In a future post I'll give you a look at the long term trends in our real estate market. Please note, I am moving my weekly Zoom meetings to a later time due to the expectation that I will be taking more appointments at locations away from my home office on most evenings for the foreseeable future. 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'm hosting a Zoom meeting to answer your general questions and talk about the local real estate market. PLEASE NOTE THE TIME CHANGE. I expect my appointment schedule to fill up in the evenings due to recent changes described below. As a result, I have moved my Zoom meetings later. Monday, May 11, 2020 at 8:00 pm - CLICK HERE TO JOIN THE MEETING Meeting ID: 585 732 1767 Password: 62536 Selected businesses in Monroe County & around the Finger Lakes region will re-open after May 15th. As expected, Governor Cuomo said the Finger Lakes region including Monroe County will be allowed to partially reopen its economy as of this weekend under "Phase One" of the NYS economic reopening plan with limited construction, manufacturing and curbside retail. Real estate is considered "Phase Two" of the plan. It is unclear when Phase Two will begin. Read the New York Forward Opening Guide:
Key week-by-week real estate numbers in Monroe County for single family homes, townhouses and condominiums since March 23, 2020. One interesting tidbit that will not be apparent after a casual review of this information: The number of properties under contract (aka, the "success rate") in 2020 has been volatile. In particular, sales that occurred in the first couple of weeks after the shutdown failed not long after they were consummated. It appears sellers were accepting offers on their properties from buyers who had not actually seen the property in person. Some of those potential transactions fell apart quickly after the buyer saw the property in person. Those properties appear to have found new buyers since the overall success rate continues to rise, albeit gently, even as the overall number of listings has been rising. Sadly, the number of properties listed in 2020 is still just 46.9% as compared to the same period in 2019. The number of properties under contract is 37.4% of 2019. Gulp!
The information below includes single family homes, condominiums and townhouses located in Monroe County. 
This chart looks at the numbers week-by-week in 2019 (parallel to 2020).
This information takes the 2020 market activity and measure it against results from comparison year of 2019 directly.
Here's a look at the regional market in our area going back to 2019. These numbers were calculated to the end of April, 2020. The first two graphs should be self-apparent. The last graph will not be familiar to most consumers: "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.
In my next post I'll offer a look at our marketplace going back a few years to help put the numbers we are seeing now in perspective. 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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