How Long Will Sellers Have an Advantage in Rochester?

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Everyone knows that the real estate market has been very hot lately, but how much longer will this market be good for sellers? That's what we'll discuss today.

This question is not so easily answered, and we're going to have to look at a few different market statistics to give you an accurate answer. It really all has to do with supply and demand, and there are things that can affect these factors.

Interest rates can alter demand, and if rates continue to rise we will probably see fewer buyers on our market. If this happens, the market may shift in favor of buyers.

Right now in most prices ranges up to $350,000, it's very much a seller's market. If we move beyond that, the market shifts into a buyer's market in higher price ranges.

But how long will it stay a buyer's market? This depends on interest rates and how much demand we have. If interest rates rise, fewer buyers will purchase homes and the decrease in demand will shift our market in favor of buyers.

I think interest rates are the most important factor in whether or not we see a shift in the market, but I don't expect them to rise unexpectedly. With this being said, I think our market should remain friendly towards home sellers.

If you need any help buying or selling real estate in Rochester, please don't hesitate to contact me.