Residential Rebound

July 8, 2013 Updated Jul 8, 2013 at 12:57 PM EDT

By WKBW Admin

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Residential Rebound

July 8, 2013 Updated Jul 8, 2013 at 12:57 PM EDT

2013 is proving to be a strong year for the local real estate market. A report in this week's Business First says the market has been fueled by low interest rates, consumer confidence and pent-up demand. Those factors transcend all markets from the northern reaches of Niagara County through all eight Western New York counties.

"The market has totally changed - and changed in a good way" according to realtors. Some say they've never sensed consumer confidence higher.

The report breaks down local real estate numbers through May of this year. Sale prices are up five percent compared to last year. The average sale price now tops $139,000. Sales volume is up 11 percent to about $457 million. And closed deals are up three percent compared to last year.

You can get more facts and figures on the local real estate market in this week's Business First and also find a Who's Who among local realtors.

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