What to know if you're buying or selling a home in Rochester

Olmsted County will need more than 5,000 homes for sale by 2030 to keep up with the demand.

New for you on daybreak.

Spring is normally a popular season for buying a house.

But, this year there are some things you should know if you're planning on selling or buying.

Kimt news 3's madelyne watkins joins us live with a check of the inventory in rochester.

Good morning, madelyne./// brooke.

This time last year... odds are you didn't see much of these signs around town.

And now if you come across a for sale sign ?

"*?

"* odds are it'll have a sold sign with it.

Take a look at this graph ?

"*?

"* it shows this time las year... rochester had 269 houses on the market.

Fast forward to that same time this year... there's only 135 houses for sale.

That's an almost 50% drop in inventory... meaning there's a supply and demand issue right now.

People in the med city don't want to sell their home... but it seems like everyone wants to move here.

Real estate agent, tami greenslade, tells me that just goes to show the growth of "and people are refinancing and they're making improvements and they're deciding to stay.

But because of the pandemic, people are going to realize they want a bigger home office, they want to change the school.

So i do believe there was a little bit of fear and a delay with sellers, but i do believe more sellers are going to be moving for good and bad reasons.

So buyers, be ready.

You're going to have more to choose from."

Just last week... a seller had 30 offers on their house here in the rochester market.

That's something greenslade tells me she's never seen in her 16 years in the industry.

Live in rochester.

Madelyne watkins kimt thank you madelyne.

Greenslade also says home prices in some rochester neighborhoods have gone up by a hundred thousand dollars over the past few years.