EAST AURORA, N.Y. (WKBW) — Step inside 842 Oakwood Avenue in the Village of East Aurora, and you’ll see why the local housing market is buzzing. The home has been completely remodeled — custom cabinetry, quartz counters and brand-new everything.
Robert Blake, an associate real estate broker with Hunt Real Estate, says East Aurora is one of the hottest markets in Western New York right now.
“We've had a lot of demand on this property. Four or five years ago, a property of this caliber, you wouldn't see as high of a demand. But because people are looking for a place and because they can afford places like this, now we're seeing a lot more people interested than we would have expected,” Blake said.
Across New York, home prices are at record highs. According to the New York State Association of REALTORS®, the median sales price in July was $451,000 — the highest ever recorded. Closed sales dropped slightly by 2.3% compared to last July, and pending sales also dipped. But more homes are hitting the market, giving buyers more choices.
“We have seen a lot more houses coming on the market the past few weeks than in the past few months, because people are finally coming to terms with the fact that they may not be in the house that's perfect for them," Blake said.
Locally, the trend is clear. New listings in Erie County jumped nearly 12% in July compared to a year ago. Niagara County listings rose about 9%, Chautauqua climbed more than 11%, and Genesee County saw a 12.5% increase.
For buyers, Blake says competition is still fierce.
“Prices continue to go up. Just be prepared. Fight for the one that you like, as if it’s the one that you love, just because it is a competitive market. We're still seeing 10, 15, 20 offers coming in on some properties,” he said.
For sellers, he says, presentation is everything.
“Make sure that when you actually go live with the listing of your home, that it looks as good as it possibly can. People tend to buy based on emotion. If it looks pretty, if it looks really nice, that's what's going to draw the attention.”
Looking ahead, Blake doesn’t expect a slowdown anytime soon.
“It's been exceptionally strong, especially for the time of year. Not uncommon to see a little dip towards the mid to end of August, but we're still staying exceptionally strong. Long term, there's no indication there's going to be a slowdown,” he said.
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