2013: Banner Year for Real Estate

January 2, 2014 Updated Jan 2, 2014 at 10:17 AM EDT

By Elizabeth Carey

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January 2, 2014 Updated Jan 2, 2014 at 10:17 AM EDT

Business First ended 2013 with its annual real estate guide.

The report notes that, according to the Buffalo Niagara Association of Realtors, through mid-December, more than 10,000 deals were completed. That's up 7.5 percent from 2012.

The average residential sale price rose three percent to nearly $146,000 in 2013.

Average days on the market - a key residential real estate indicator - dropped 12 percent to just 66 days.

The Business First real estate guide has a listing of high end real estate deals with a break down for each community. High end deals are worth $200,000 or more. Amherst tops the list with 726 such deals. Buffalo is next at 362. Then Clarence with 358, Orchard Park with 268 and Hamburg at 263.

2013 was also a busy year for area developers on the commercial end. Ellicott Development acquired 17 properties in Erie County totaling about $13.1 million. That includes $3 million for the former Holy Angels Academy. Ellicott and McGuire Development will convert the site in North Buffalo. It will likely become an educational center. The report says the fast-paced year is a sign of confidence in the region.

You can get more details in the real estate issue, which was compiled by Jim Fink at Business First.