ALBANY, N.Y. — New York realtors sold more than 10,700 previously-owned homes in November, down 2.5 percent from the record, nearly 11,000 homes sold in November 2016, the New York State Association of Realtors (NYSAR) reported.
However, home prices continued to rise, with the statewide median sales price hitting $254,000 last month, up 5.8 percent from the November 2016 median of $240,000. And sales for the year are expected to be up.
“Sales remain on track to finish slightly ahead of the 2016 record and we project the median sales price to show growth of 5.5 to six percent,” Duncan MacKenzie, CEO of NYSAR, said in a news release.
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Sales data
The year-to-date (Jan. 1 through Nov. 30) sales total of 122,238 was 2.5 percent above the same period last year, according to the NYSAR data.
The year-to-date statewide median sales price was $250,000, an increase of 5.9 percent from the same period in 2016.
Pending sales in November increased 5.6 percent from a year ago to reach 9,945.
The months supply of homes for sale dropped 11.1 percent at the end of November to 5.6 months supply. It stood at 6.3 months at the end of November 2016.
A 6 month to 6.5 month supply is considered to be a balanced market.
The number of homes for sale stood at 63,916 in November, a decrease of 9 percent compared to November 2016.
Central New York data
Realtors in Broome County sold 127 existing homes in November, up 2 percent from 124 a year ago, according to the NYSAR report. The median sales price increased more than 13 percent to $108,000 from more than $95,000 a year ago.
In Jefferson County, realtors closed on 109 homes in November, up 11 percent from 98 a year ago, and the median sales price increased about 1 percent to more than $136,000 from $135,000 in November 2016, according to the NYSAR data.
NYSAR also reports that realtors sold 226 homes in Oneida County last month, up about 16 percent compared to the 194 sold during November 2016. The median sales price rose more than 11 percent to $127,500 from more than $114,000 a year ago.
Realtors in Onondaga County sold 423 previously owned homes in November, a sales increase of more than 6 percent compared to the November 2016 total of 397. The median sales price rose about 7 percent to more than $142,000 from nearly $133,000 a year ago.
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.
Contact Reinhardt at ereinhardt@cnybj.com
