Buffalo Real Estate Market hits New Record in 2016
Well, if you have been watching or reading the news, Buffalo is doing great in many areas. That includes, manufacturing, entrepreneurship, medical advances, marketing and of course Real Estate. Our market has been strong in recent years but 2016 proved to be record breaking!
As you can see above, for the first time ever in our history we broke over 12,000 sales of Residential Homes and Condo and Townhouse combined. Almost $2 billion in total dollar volume. Even though the graph only goes back 10 years, I have reports that go back to 1988 and never before in the history of our records show any higher volumes recorded.
The next graph, shows 2 figures very important to the sale of a home and those are Days on Market (How long it takes to sell a home) and Average Sale Price. As you can see the Days on Market for the past 2 years is less than 60 days! And the Average sale price is at an all time high of $154,046! Your best investment is in a home in WNY.
This is great news if you are in the market to sell your home! And if you are thinking about buying, then the time is now, because our trends only show that our market is still going up so waiting will cost you more next year!!
Be sure to contact a Real Estate Broker or Salesperson to get all the up to the minute information, so they can help you sell your home at the correct value, or help you buy your dream home!