June 2023 Greater Rochester NY Area Real Estate Market Update
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I hope that you had a wonderful Independence Day a few weeks ago and that you’ve had some time to enjoy the Summer!
Now that we’re into July, it’s time to review how the Greater Rochester NY area real estate market performed in June 2023!
As we discussed in the May real estate market update, real estate markets vary from town to town, city to city, and state to state and this holds true for the Greater Rochester NY real estate market as well.
Here is a post from my Facebook page provides some very simple and easy to follow graphics. These graphics contain some very important real estate statistics for many of the local real estate markets and areas throughout the Greater Rochester NY area!
This month we’re going to cover a couple specific areas and compare month over month statistics, May 2023 versus June 2023! So, let’s begin!
Pittsford NY Real Estate Market
The Pittsford NY real estate market continues to be one of the strongest in all of the Greater Rochester area. The month of June was no different and the Pittsford market saw a nice increase in many places.
While the average days on market was a bit higher in June when comparing to May, 35 versus 30, the other statistics that Pittsford NY home sellers would prefer to be strong, were!
The total number of sales in the Pittsford real estate market in June was 44 versus the 18 Pittsford homes that were sold in the month of May.
The number of new homes for sale in Pittsford NY that were listed in June was only a bit higher than the previous month of May. June saw 53 new listings in Pittsford while May saw 49!
Arguably the most important statistic for homeowners who’re thinking of selling their Pittsford NY home, which is average sale price, was also on the increase in June compared to May! The average sale price in June 2023 in Pittsford was $605,270 compared to the $585,485 in May 2023. This is a solid improvement, on average, of almost $20,000!
Irondequoit NY Real Estate Market
As an Irondequoit resident for a large portion of my lifetime, I’m always interested to see what’s happening in the Irondequoit NY real estate market!
When comparing the month of June and May in the Irondequoit market, there were certainly some changes that are worth noting.
First and foremost, the average days on market for homes in Irondequoit was 4 fewer in June 2023 (7 days) versus May 2023 (11 days). This isn’t a huge number, but certainly an indicator that the Irondequoit market is remaining very active.
The average sale price of homes in Irondequoit actually went down a small amount in the month of June 2023 versus May, however, one it was only about $14,000 on average, $232K versus $246K.
The number of new homes for sale in Irondequoit was exactly the same from June 2023 and May 2023, 77 new listings.
The largest change in the Irondequoit market when comparing June 2023 to May 2023 was the number of homes sold. In June there were 70 homes sold and in May there were 44.
The difference of 26 more homes sold in June compared to May is a strong indicator that moving forward Irondequoit NY real estate agents will remain busy through the Summer months.
Victor NY Real Estate Market
Last, but certainly not least, this month we will compare the Victor NY market in June versus May. The Victor real estate market has been an upward trending market for years and when comparing June versus May, it’s no different!
The average days on market during June 2023 was a bit higher at 24 days when comparing to the month of May 2023, which was 14 days. This is not a substantial difference and likely is the result of a particular home that lingered on the market.
The number of new listings in June 2023 was 36 compared to the 24 in May. The number of homes sold in June in Victor was 22 versus the 12 Victor NY homes sold in May. These are both a fairly large increases, in fact, over 50% improvements in June versus May.
Yet another strong indication of the trending Victor market is the average sale price in June was substantially higher when comparing to May. The average sale price of sold homes in Victor in June 2023 was $472,600 and in May 2023 it was $389,398.
Again, this is an average, so this huge increase in average sale price is likely due to a Victor NY luxury home being sold.
Final Thoughts On June 2023’s Real Estate Market
As you can see from the comparison of the Pittsford, Irondequoit, and Victor markets, the Greater Rochester real estate market continues to remain strong and very competitive.
I would suspect that this trend will continue throughout the summer months of July and August as well as into the Fall and Winter months.
The number of new listings is simply not enough to keep up with the number of buyers looking to purchase real estate in the area.
Even with interest rates being higher than the previous years, prices continue to climb and I would suspect this will continue to be the case, especially if the interest rates come down at all.
If there are certain areas or real estate markets that you would like covered in the coming months, please let me know! You can contact me here or by text/call at 585-704-7095.
Previous Month’s Real Estate Market Updates
About the author: The above “June 2023 Greater Rochester NY Area Real Estate Market Update” was written by Kyle Hiscock. Kyle has been selling real estate in the Greater Rochester NY area for over 12 years and has helped hundreds of buyers and sellers move in, move around, and move out of the area!
About Rochester’s Real Estate Blog: Rochester’s Real Estate Blog is owned and operated by Kyle Hiscock of the Hiscock Sold Team at RE/MAX Realty Group.
Since being launched in 2013, Kyle has published more than 150 quality, in-depth, and unique real estate related articles on the Rochester Real Estate Blog pertaining to topics varying from home selling to mortgages and everything in between! In addition to quality real estate related content, there are also many quality articles pertaining to the Greater Rochester NY area.
The Rochester Real Estate Blog has been recognized by many reputable websites as one of the best real estate blogs to visit and follow! In addition to being recognized as one of the best real estate blogs, Kyle has been recognized as one of the top Realtors on social media by several organizations and websites.
The Hiscock Sold Team has almost 50 years of combined experience, so if you’re thinking of selling or buying, we’d love to share our knowledge and expertise.
We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.