Empire State third quarter home sales jump 17 percent

From NYSAR:

Oct 21, 2013

Motivated homebuyers dominated the Empire State’s summer housing market, powering 17.4-percent jumps in both statewide closed sales and pending sales during the third quarter, according to the housing market report released today by the New York State Association of REALTORS^®. The state median sales price increased by 5.4 percent statewide. 
“The summer of 2013 will be remembered for the New York State housing market’s return to normalcy – that is buyers were buying and sellers were selling,” said Duncan R. MacKenzie, NYSAR CEO. “Buyers were highly motivated by concerns about mortgage rate hikes and available inventory, while sellers were enticed back to the market by five consecutive quarters of sales price growth.”
“As available inventory contracted in the third quarter to levels reminiscent of the 2005 and 2006 markets, sellers benefited from quicker sales that closed at nearly 96 percent of the asking price,” MacKenzie said, noting that the price increases have not deterred buyers in this market. 
“The 31,540 pending sales in the third quarter of 2013 set the high-water mark for any third quarter pending total since 2006,” said MacKenzie. “As many of these contracts work their way to closing, it will help fuel the fall market. However, we do anticipate that the current hectic pace of activity will begin to taper as fall turns to winter.”  
Year-to-date statewide sales (Jan. 1 – Sept. 30) were up 11.6 percent compared to the same period in 2012, reaching 78,745. There were 32,955 closed sales in the 2013 third quarter, up 17.4 percent from the 2012 total of 28,073. Closed sales in September 2013 were up 14.8 percent, reaching 9,364.
The year-to-date (Jan. 1 – Sept. 30) statewide median sales price of $226,000 represents a 5.1-percent increase from the same period a year ago. The 2013 third quarter median of $235,000 is 5.4 percent above the 2012 third quarter median. The September 2013 median sales price of $230,000 represents a 4.5-percent jump from the September 2012 median.
The months supply of inventory dropped 20.2 percent in September to 9.9 months supply. It was at 12.4 months in September 2012. A 6 month to 6.5 month supply is considered to be a balanced market. Inventory stood at 90,286 units in September 2013, a decrease of 11.2 percent compared to September 2012.
Additional data is available here.

SPRINGBROOK SHORES PATIO HOME FINAL OPPORTUNITY

Marrano/Marc Equity Corporation has announced the final opportunity for home buyers to build a patio home in Springbrook Shores in Elma. “This spectacular community has been one of our most popular with winding roadways, mile-long nature trail and 45-acres of conservation area,” said John Manns, Marrano’s vice president of sales and marketing. “The entire neighborhood consists of 151 of the most desirable lots in western New York but less than 15 remain,” Manns continued. 

One home is still available for closing this year. This upscale patio home located at 7 Lakeview Court is set on a deep lot backing up to heavy woods. It features a great room with vaulted ceiling and gas fireplace. The spacious kitchen has granite countertops, hardwood flooring, updated cabinets and built-in microwave. Other amenities include central air, Pella windows, 8-foot basement, first-floor laundry and more. It is priced to sell at only $299,900.

Of the remaining homesites available for build order, all back up to a pond or treed areas. The patio home lifestyle at Springbrook Shores provides maintenance-free living where landscape maintenance, lawn cutting, snow removal and trash pick-up are managed through an association. This feature gives homeowners the freedom to enjoy other activities with friends and family. Prices start in the $240s.

“This will be the final phase of this community. Springbrook Shores offers the privacy of a quiet, rural environment while still providing easy access to services and conveniences,” Manns explained. “This is an opportunity you don’t want to miss.”

To visit the model home at 6 South Shore Drive take Transit Road, to Seneca Street, to Rice Road, to Springbrook Shores. Model hours are Saturday through Wednesday 1 – 5 p.m. For more information, call Steve Converse at 716-809-8676.

Rare Willow Ridge Area Colonial

This rare Forbes colonial located at 517 Kaymar Drive in Amherst has just hit the market but don't wait.  It will be gone soon! The huge vaulted Family Room features hardwood floors, wood burning fireplace w/bookcases and large picture window overlooking the lake. The remodeled Kitchen shows Zodiaq counters, oak cabinets, ceramic tile and large pantry. The formal Living and Dining Rooms both feature plush carpeting along with front and rear bay windows. Note the huge bedroom sizes. Other feats include 1st floor laundry, central air, concrete drive & more. Don't miss the spectacular view of the lake with no rear neighbors.  Priced to sell fast at $279,900.  For more information, call Steve Converse at 716-479-3378 or email here