Record Luxury Sales in WNY
The Buffalo News today is reporting the sale of two homes in Hamburg that will break the sales record of highest sold homes in Western New York. Deals have been signed on two homes located at 6553 Boston State Road and 6523 Boston State Road in the Town of Hamburg for $3.3 million, and $3 million, respectively. The sales are scheduled to be finalized within the next month. Part of the article quoted Peter Hunt:
Peter F. Hunt, president and chief executive of Amherst based Hunt Commercial Real Estate, said the big-ticket deal has the potential to put a spotlight on the Buffalo area’s stock of high-end homes.
“This will help demonstrate the great values that exist here in the luxury real estate market. You can get far more here for the buck in terms of quality than just about anywhere else in the country,†Hunt said.
The real estate executive said out-of-town buyers are frequently “floored†when they see the level of home they can afford in Buffalo, compared with most large urban areas.
“In Manhattan, $3 million buys you maybe 1,500 square feet. In the Buffalo area, it will buy the estate of your dreams,†Hunt said.
Million Dollar and Greater Homes for Sale
As of August 8, 2008 Market Report that I did based on price range the over million dollar market report is as follows:
- There are 18 homes for sale in this price point ranging from $1,079,000 to $2,000,000 for an average list price of $1,462,222
- There is one pending/under contract listing in this price range at this time
- There has been a total of two homes sold for an average sales price of $972,500 and spending an average of 376 days on the market
- The first home sold for $995,000 and spent a total of 25 days on the market. This Lewiston home started at $1,195,000
- The second home sold for $950,000 and spent a total of 727 days on the market. This Aurora home started at $1,350,000 when it was first listed.  It appears a victim of chasing the market down. Yes it is possible to sell quickly in the high range, it is a matter of pricing your home correctly.
Related Articles:
- [download id="3"]
- August 2008 Real Estate Market Report by Price Range
- Million Dollar Homes For Sale Market Report – May 2008
- Million dollar homes for sale in Buffalo Niagara Region – April 2008
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