Rochester, NY Real Estate Market is Stable
"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
8 comments:
Hi LadyBanana,
"Not allowed"? lol Actually I think your in a good place economically. I don't know much about England's economy, but your money is worth twice as much as the U.S. Sometimes I think of moving there. ;o)
By the way, how's your new Prime Minister Brown working out? Americans are much more familiar with Blair.
Scary. I no longer own ... only rent but I feel for those losing their homes, very sad.
Hi Drowsey Monkey,
Yes, these are crazy times. How is Canada's economy?
It blows me away when I read of or visit other areas and see what houses are going for. Now if we could only get taxes more in line with other states.
I sold out at the top of the market out here to my ex and so glad I did. I rent happily now and will until the kidlets are up and out then I'm headed to either the Bay Area or Oregon.
Hi, Hahn at Home,
It's good to see you again Lori!
Sounds like you made a very wise move especially considering the latest economic news.
Hi tom sheepandgoats,
I know, the prices are outrageous in many other states, comparatively speaking.
I've heard that some areas have lower taxes like Fairport.(?) I've never owned a home, so I'm not up to date on taxes.
By the way, I've added your blog to my Technorati. Are you on Twitter?
I've have yet to visit that new Wegmans, but I hope to check it out soon. I get gas in the Jefferson Rd, West Hennreitta Rd area. It cheaper.
Good Day!!! awakeinrochester.blogspot.com is one of the most excellent resourceful websites of its kind. I take advantage of reading it every day. Keep it that way.
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