ROCHESTER, NY – Home prices are skyrocketing in Rochester, but demand for homes remains high.
Home prices rose nearly 20% in May, with a median listing price of $265,000. But the median time a house stayed on the market was just 13 days.
This is an increase of three days compared to May last year, but still the lowest in the country. The main reason why the houses are sold quickly is that the inventory is at a historically low level.