| | |
2023 Real Estate Recap
| | | | |
2023 WNY Real Estate Recap
How to describe real estate in WNY last year? Complicated.
Many listings still had multiple offers, while others sat on the market longer than expected. Fluctuating interest rates negatively impacted some buyers and at the same time gave an advantage to others.
Overall, in both Erie and Niagara County, inventory was down and but sale prices increased in most areas.
If you're thinking about buying, selling or just want the most up to date information about your neighborhood, please reach out, I would love to be a resource.
Cheers to a strong market in 2024! ~Bethany
Days on Market (until under contract)
This number increased in both counties, indicating more favorable conditions for buyers. More time for due diligence like home inspections and in some cases price reductions.
Homes Sold
Fewer homes sold, primarily due to lower inventory in 2023 than 2022.
Price Per Square Foot
The increase of just over 4% was consistent in both counties. Even with the fluctuation in interest rates, home values remained strong for sellers.
photo and video credit throughout the booklet ~Judd Laurie Productions~
NEW CONSTRUCTION
New construction prices in both Erie and Niagara County increased significantly over 2022.
Each office is independently owned and operated. Information deemed reliable, but not guaranteed. Not intended to solicit sellers or buyers under written contract with another REALTOR®.
Bethany Botzenhart
Licensed Real Estate Salesperson
Howard Hanna Western New York
5462 Sheridan Dr, Williamsville, NY 14221