Real Estate Rebound

February 26, 2013 Updated Feb 26, 2013 at 8:17 AM EDT

By Elizabeth Carey

February 26, 2013 Updated Feb 26, 2013 at 8:17 AM EDT

There's a real estate rebound in the works. A report in this week's Business First shows how it's a seller's market for single-family homes and condos. After years as a buyer-friendly market, Western New York has reversed, with homes selling quickly at the asking price or above. Realtors say it's thanks to stronger consumer confidence and low interest rates. The report says they're seeing a lot of activity in demand neighborhoods like the Delaware District and Snyder, but also in areas like Kenmore and West Seneca. The Buffalo Niagara Association of Realtors says closed deals jumped nearly 36 percent so far this year compared to last year. Average sale prices are up almost two percent.

A new project is music to the ears of developers. A new live music club will open this summer near First Niagara Center. Business First says it's thanks to the growing popularity of Buffalo's Canalside and Cobblestone District. Developer Sam Savarino belongs to a partnership that will be opening the two-level club on Illinois Street, opposite the First Niagara Center parking ramp. Capacity could reach 800 people, which would be larger than the Tralf music hall but slightly smaller than the Town Ballroom.