Real Estate Market in Rochester, NY
Rochester, NY’s economy has been slowly improving creating a positive growth real estate market. The median single-family house price was $135,000 in the second quarter of 2015 in greater Rochester, an increase of 5.4% from a year earlier, according to the National Association of Realtors.
Aside from the almost 3% home index value that Zillow attributes, Rochester’s home market is still a tad shaky. The economy has been up and down since the Great Recession and it’s hard to gauge how the housing market will be from one year to the next.
Rochester, NY’s housing market is considered the most ambiguous when looked at by investors, a perspective that many investors consider a gamble and are cautious about.