Buffalo NY Real Estate Sales Statistics for March 2020

Like most areas of the country, the Corona Virus has wounded the real estate market in Buffalo, NY.  But compared to other local communities Buffalo NY has not suffered as much when it comes to sales.  Real estate sales were only off by 3.7% compared to March of 2019.  There were 79 new listings compared to 125 in March of 2019.   Pending sales though were down by 20.3% which will undoubtedly hurt April closing figures.  On a positive note, the average sale price is Buffalo NY rose by 23.9% with the average price of a single family home at $134,414 compared to March of 2019 which was $108,510.  The inventory of homes available for sale was lower than this time last year by only by 7.4% which is encouraging given the current climate.  Many people are wondering how they could sell there home during this world pandemic.  We can tell you that we are still listing and selling homes.  Our advanced technology for document preparation and electronic signings coupled with our quality walk through videos and drone videos and made is so we can continue to list and show homes.  Buyers are still shopping.  Our website traffic is still very high and we get questions every day on homes we have for sale.  We are prepared for a crazy spring market even though it may not really start until late May.  To virtually visit some of our current homes for sale visit https://www.greatlakesrealestate.com/virtual-tours