Genesee's real estate market is experiencing a price correction, with values down 8.4% from last year. Home prices have decreased 13.1% in the past month. With 17 active listings, inventory is 55% higher than seasonal norms. Homes are now taking an average of 9 days to sell, significantly longer than the 5 days typical for this market. A significant 52.9% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 18.2% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Genesee market with the affordability index at 1874.3. Based on current market indicators, home prices in Genesee are projected to decrease by approximately 25.8% over the next month.
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