Nothnagle Continues to Outpace the Market

The Greater Rochester Association of Realtors recently released their statistics for the 2nd Quarter of 2010. The report is based on transactions reported through the Multiple Listing Service (MLS) and provides a snapshop of recent real estate activity in the local market.

When compared to the same time period in 2009, report indicates that active listings are down 8%. Nothnagle has been gaining in listing market share and is up 2% for the year. So while there may be fewer properties coming on the market, more sellers are choosing a Nothnagle agent to list their home with.

Nothnagle’s company statistics outpace the 2nd Quarter stats for the market. While GRAR reported that closed units were up 43% over the same time period in ’09, Nothnagle’s closings were up 50%. GRAR reported sales volume up 47% compared to Nothnagle’s sales volume increase of 69%. And while median sales price for the overall market was up 2%, Nothnagle’s average sales price increased by 13% when compared to 2009.

The homebuyer’s tax credit significantly drove sales in the 2nd quarter. With the expiration of the tax credit, the market has experienced an anticipated slow down. A future indicator of upcoming closings is current pending deals and GRAR reported that accepted offers for the 2nd Quarter were down 59% over the previous year. Nothnagle has seen a slight decrease in business as expected, however new written business is only down a fraction of what GRAR reported.

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