Cold weather. Hot market. Multiple offers common in the Rochester real estate market

The winds were howling as the county braced for a severe windstorm Sunday. Yet despite the raging weather, 32 groups of prospective buyers crammed into an open house at 3 Briarwood Lane in Fairport. Priced at $150,000, the 1,056-square-foot ranch home is in picture-perfect condition. By the following day, eight offers had rolled in.

Neither snow nor cold nor threat of severe blowing winds could stop would-be home buyers in what is turning out to be another early start to a frenzied real estate market. Realtors say the year is off to a good start with much buyer interest, particularly for homes in the mid-price range. The median home price in Monroe County in 2018 was $140,000, according to Greater Rochester Association of Realtors.

"The market has been very similar to 2018," said Angie Flack Brown, real estate agent at Keller Williams whose team listed the Fairport home. Last year, inventory shortages prompted multiple-offer situations in popular areas. In 2018, home sales dropped 2.9 percent in the county, largely due to low inventory. 

"The shortage is worse than last year," Brown said of the current real estate market for middle-range-priced homes.

In the east-side suburbs, homes that are around the $200,000 range and below are moving quickly; in the west-side suburbs, homes in the $150,000 range are popular. Certain city neighborhoods such as North Winton Village are also very popular, Flack said.

Other real estate agents also report brisk activity, even during the windstorm. Cathy Bianchi of Howard Hanna had 23 groups of prospective buyers at her Irondequoit home at 189 Stonehedge Road priced at $149,900 Sunday. Bob Maves of Howard Hanna reported brisk crowds Sunday at his listing at 3 Anthony Circle in Webster priced at $244,000 with one offer in the next day and another possibly on the way.  Ashley Nowack of Howard Hanna said a line of people and cars formed for an open house in Fairport during the storm. 

Inventory has been a persistent issue the past few years. Penfield has 14 active homes, but nothing in the $200,000 range. There is one at $189,900 with the next priced at $325,000 — and nothing in between.

It's not just Monroe County suburbs experiencing a shortage. Brown said she has a client looking in the Kendall school district, but there are no listings.

"Many sellers are ready to put their homes on the market but are unable to find something to buy," Brown said. "If they need to sell in order to buy, it's even more difficult. Many of our clients have chosen to sell first, planning on some type of temporary housing until they find their new home." 

Open-house traffic has been very strong this year, Brown said. Homes under $250,000 on the east side are selling almost immediately, she added. 

Many people are downsizing, and not just baby boomers. "People are realizing that they don't need or want the big homes they used to," Brown said.

Investors are also having a hard time finding properties. In the past, homes that needed work would generally be a good buy from investors. Now even these homes are being scooped up by buyers who are willing to do work that they didn't want to take on before, Brown said.

The luxury market is also seeing brisk movement early this year. Jamie Columbus of Judy's Broker Network is seeing a surge in sales in the higher-end market. The Victor, Ontario County, mansion formerly owned by Paychex founder Tom Golisano and listed by Sarah McAuliffe of Judy's Broker Network sold quickly, with the listing price at $975,000.

Mary Chao is the real estate and retail reporter for the Democrat and Chronicle. Her real estate columns may be found Saturdays in Real Estate and Rental and online at DemocratandChronicle.com.