ALBANY, N.Y. — The hot residential-housing market in the state did not cool off in the first month of the new year, despite a lack of inventory. New York realtors sold 11,153 previously owned homes in January, up 16.7 percent from 9,557 homes sold in January 2020. And pending sales in January climbed nearly 23 […]
ALBANY, N.Y. — The hot residential-housing market in the state did not cool off in the first month of the new year, despite a lack of inventory.
New York realtors sold 11,153 previously owned homes in January, up 16.7 percent from 9,557 homes sold in January 2020. And pending sales in January climbed nearly 23 percent. That’s according to the New York State Association of Realtors (NYSAR)’s January housing-market report issued Feb. 19.
“A robust winter housing market continued into 2021 with both pending and closed sales remaining strong,” NYSAR said in the report.
Sales data
Pending sales totaled 10,588 in January, up 22.9 percent from the 8,612 pending sales posted in the same month in 2020, according to the NYSAR data.
The January 2021 statewide median sales price soared more than 20 percent to $355,000 from $295,000 a year ago.
The months’ supply of homes for sale at the end of January stood at 3.1 months, down about 34 percent from 4.7 months a year earlier. NYSAR says a 6 month to 6.5 month supply is a balanced market.
The number of homes for sale totaled 38,885 in January, down from 53,054 in January 2020.
Central New York data
Realtors in Onondaga County sold 336 previously owned homes in January, up 2.4 percent from the 328 sold in the same month in 2020. The median sales price jumped 12.2 percent to $165,000, from $147,000 a year ago, according to the NYSAR report.
NYSAR also said realtors sold 146 homes in Oneida County in the first month of 2021, up 4.3 percent from 140 in January 2020. The median sales price increased 18.4 percent to $152,740 from $129,000 a year earlier.
Realtors in Broome County sold 134 existing homes in January, up 13.6 percent from 118 a year prior, according to the NYSAR report. The median sales price rose 27.1 percent to $136,000 from $107,000 in the year-ago month.
In Jefferson County, realtors closed on 101 homes in January, up 31.2 percent from 77 in January 2020, and the median sales price of $164,500 was up 33.7 percent from $123,000 a year before, 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.