Rochester homes selling fast, and selling for more

[anvplayer video=”5179931″ station=”998131″]

ROCHESTER, N.Y. – Home prices are soaring in Rochester, but the demand for homes is staying high.

Home prices spiked by nearly 20% in May, with a median listing price of  $265K. But the median time a house stayed on the market was just 13 days.           

That’s an increase of three days compared to May of last year, but still the lowest in the nation. The main reason houses are selling quickly is that inventory is at a historic low.