By Mark Scott
Buffalo, NY – Home sales in the area during January were about equal to what they were in January 2001.
The Buffalo Niagara Association of Realtors is reporting 644 units were sold last month compared to 639 a year earlier. But the association's newly-elected president William Curtin said the average sale price increased seven percent.
"The average price is up to $98,800, which means there's a $6,000-plus average price gain," Curtin said.
That's certainly good news for an area that according to a Buffalo News analysis published last weekend is dealing with stagnant housing values. Whether the increases continue is anyone guess right now. But Curtin said with interest rates so low, he's bullish on the local housing market.
"I started in this business 31 years ago, and it was eight-and-a-half percent," he continued. "I never thought it would get this low. We're about seven percent right now. The time to buy is now."
Another positive sign, according to Curtin, is that many sellers are receiving multiple offers. The winter months are usually difficult ones for local realtors, but this year, he says, is different.