GRAR: No surprise that Rochester is the hottest real estate market
Rochester is the hottest real estate market in America.
That's according to Realtor.com, weighing factors such as how quickly a home sells, the number of listings, and affordability.
It says Rochester attracts buyers from a variety of age groups, especially Generation Xers.
Andy Kachaylo, president of the Greater Rochester Association of Realtors, said the top ranking comes as no surprise to him, and people around the Rochester area would likely agree.
"People would confirm that we've known it's a great place, and now it's nice to see the rest of the country recognizing us for being awarded for what we know we've always had," he said. "If you're a buyer, my advice is to be well-prepared, pre-approved, and when you find the right house, be ready to take action, because it will not be around long."
The real estate listings website said on average, properties here stay on the market 22 fewer days than the national rate. It also said Rochester appeals to a wide variety of generations, is affordable and has a strong urban housing market.
It's the first time Rochester ranked No. 1 since Realtor.com began tracking the hottest real estate markets in 2013.