Area home sales were up 7 percent in the third quarter compared with a year ago, the Greater Rochester Association of Realtors Inc. reported Friday. The median sale price was up 8 percent.
Closings for the quarter were 3,084, compared to 2,887 last year, according to Genesee Regional Real Estate Information Services Inc., the information subsidiary of GRAR. The median sale price was $133,000, up from $123,000 a year ago.
There were 4,714 homes on the market, a decline of 4 percent, compared with 4,926 in the year-ago quarter.
“New listings tend to slow down as the seasons turn,” GRAR president Steve Babbitt said, in a statement. “The drop in inventory indicates more of a balance between buyers and sellers, supporting sustained price growth.”
New home permits rose 16 percent to 648 in Monroe County compared to the same period in 2011, Rochester Home Builders’ Association reported. Ontario and Wayne counties posted new home permits of 157 and 49, respectively, down from 209 and 77 a year ago.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail firstname.lastname@example.org.