Rochester, NY Real Estate Market is Stable
Thinking of moving to a place where the housing is stable, and comparatively low priced? Well, consider Rochester, New York.
"While the bottom has dropped out of the real estate market in many large metropolitan areas, property owners and realtor's say the housing market in Rochester remains stable."
"Arlene Eggleston of ReMax Plus said,”Rochester is really unlike the rest of the country. You don't have the highs and the lows that you see in big cities, so I would have to say the market is really quite stable here.”"
"The hallmark of the Rochester NY real estate market is a lot of house for the money. Compared with most other parts of the United States, Rochester houses have more charm and character for a fraction of the price! Based upon 2004 data, the median home sales price in the United States is $225,000, compared to the Rochester area's median home sales price of $115,000. The median house price in the city of Rochester is even more affordable. In addition, 77.5% of area homes are affordable to a family earning the median income, compared to 50% nationwide, demonstrating that in Rochester, your real estate dollar goes farther. (The Rochester area's median income is $58,800, slightly higher than the national median.)"
Rochester didn't make Forbes top ten list of "American's Recession-Proof Cities", however, our housing was mentioned favorable. Although we are entering into a difficult period of credit crunch, to date Rochester's housing has held up comparatively well.
If your thinking of moving here, check out this tool...
Yahoo! Real Estate (Rochester, NY)
Sources -
13 Wham: Rochester Real Estate Market Stable
Rochester City Living: Housing & Real Estate in Rochester