Each month, we receive statistics from the Buffalo Niagara Association of Realtors (BNAR) that provide a snapshot of the Western New York housing market. The July 2016 report contained one statistic that really stood out: A -23.5 percent one-year change in the total number of homes for sale.
In layman?s terms, it means there were nearly 25 percent fewer homes on the market in 2016 when compared to the same timeframe in 2015. As a result, those looking to purchase a home might find the competition a little more difficult than they anticipated. But if you?re selling, or thinking of selling a home, your timing is very good. Fewer homes on the market means more potential buyers per house, and the increased likelihood of a bidding war.
Whether you?re buying or selling, the process is made much easier when there?s an experienced real estate agent at your side to offer guidance and assistance. Please contact us today if we can be of service.