Buffalo NY real estate market updateReal estate sale in Buffalo NY were brisk in the start of the new year of 2020.  There were one hundred forty three (143) total sales of single family residential homes.  The average sale price was $141,434.  The total sale volume was $20,225,000.  Due to the low inventory of homes and the highly competitive sellers market it looks like more buyers are paying cash to get an advantage when there are multiple offers on homes.  Of the total homes sold in this two month period fifty two homes were sold to cash buyers.  Sixty nine buyers obtained conventional mortgages, sixteen sales were FHA mortgages, two sales were VA mortgages and the rest were listed as “other” financing.  Once again the days on market indicator shows a strong sellers market with ninety of 143 homes sold were sold in less than 30 days.  Thirty homes were sold between thirty one days and sixty days, thirteen were sold between sixty one and ninety days and the rest were over 91 days.  With the weather warming up we suspect our local market will also heat up.  If you are looking for a home in the Buffalo NY market you we would recommend you not wait until April to start your search.  Start now by going to www.greatlakesrealestate.com/search-page or visit or map enjoyable map search page a www.greatlakesrealestate.com/map-search.  As always, we are here to help.  If you would like to speak with one of our professional agents or need help getting started call us at 716-754-2550.