A June 2016 report from the Buffalo Niagara Association of Realtors informs us that halfway through the current year, residential real estate markets in our area are performing as predicted at the beginning of the year. Closed sales and median sales prices have been going up in many areas, while the number of homes for sale and total months’ supply of inventory have been going down.
Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand.
The key point here is that the “closed sales” statistics continue to improve, an indication of a strong real estate environment. There are many exciting things happening in Buffalo and Western New York, and a healthy real estate market is keeping pace!