New York state, CNY home sales fall in October

New York realtors sold 12,408 previously owned homes in October, down 4.1 percent from the 12,937 homes they sold a year prior, as the inventory of homes for sale fell.

That’s according to the New York State Association of Realtors (NYSAR)’s October housing-market report issued Nov. 21.

Sales data

The declining inventory of homes helped push the statewide median sales price up to $280,000 in October, up 8.1 percent from the October 2018 median of $259,000, according to the NYSAR data.

Pending sales totaled 11,844 homes in October, an increase of 2.6 percent from 11,545 homes in the same month in 2018.

The months’ supply of homes for sale at the end of October stood at 6.1 months, per NYSAR’s report, down from 6.5 months a year earlier.

A 6-month-to-6.5-month supply is considered to be a balanced market, NYSAR says.

The number of homes for sale totaled 69,081 in October, a decrease of 4.2 percent from 72,088 homes in October 2018.

Central New York data

Realtors in Onondaga County sold 512 previously owned homes in October, down 0.6 percent from the 515 homes they sold in the year-ago month. The median sales price rose 7.6 percent to $156,000 from $145,000 a year earlier, according to the NYSAR report.

The association said realtors sold 209 homes in Oneida County in October, down under 1 percent from the 211 homes sold during October 2018. The median sales price rose over 11 percent to nearly $150,000 from more than $135,000 a year ago.

Realtors in Broome County sold 156 existing homes in October, down 8.2 percent from the 170 homes they sold during the same month in 2018, according to the NYSAR report. The median sales price declined 7.2 percent to $112,250 from $121,000 a year ago.

In Jefferson County, realtors closed on 119 homes in October, down 16.2 percent from the 142 they sold in the same month a year ago. The median sales price was $182,750, up 21.8 percent from $150,000 a year earlier, according to the NYSAR data.

All home-sales data is compiled from multiple-listing services in New York state and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.