Pending sales skyrocketed ALBANY, N.Y. — New York realtors closed on the sale of 13,322 previously-owned homes in September, up 12.2 percent from the 11,878 homes sold in September 2019, amid strong buyer interest as the market emerged from the worst effects of the pandemic. Pending home sales jumped 49.3 percent to 16,813 in September from […]
Pending sales skyrocketed
ALBANY, N.Y. — New York realtors closed on the sale of 13,322 previously-owned homes in September, up 12.2 percent from the 11,878 homes sold in September 2019, amid strong buyer interest as the market emerged from the worst effects of the pandemic.
Pending home sales jumped 49.3 percent to 16,813 in September from 11,264 a year ago. That’s according to the New York State Association of Realtors (NYSAR)’s September housing-market report issued Oct. 22.
“As cooler weather approaches, the New York State real estate market continues to heat up with strong buyer activity amid continued low inventory,” NYSAR said in the report.
New listings increased as well, rising 13.6 percent from 18,542 homes a year ago to 21,062 this September.
As buyer demand rose amid limited inventory, it caused house prices to soar. The September 2020 statewide median sale price popped 17.5 percent to nearly $325,000 from over $276,000 in September 2019.
The months’ supply of homes for sale at the end of September stood at 4.5 months’ supply, down about 22 percent from 5.8 months a year ago, per NYSAR’s report.
A 6-month to 6.5-month supply is considered to be a balanced market, the association said.
The number of homes for sale fell 21.5 percent from 67,107 units in September 2019 to 52,687 homes this September.
Central New York data
Realtors in Onondaga County sold 481 previously owned homes in September, down 4 percent from the 501 homes sold in the year-ago month. The median sale price rose 16.7 percent to $178,000 from $152,500 a year prior, according to the NYSAR report.
The association also reports that realtors sold 195 homes in Oneida County in September, up 8.9 percent from the 179 homes sold during September 2019. The median sale price increased 14.4 percent to $152,950 from $133,700 a year ago.
Realtors in Broome County sold 189 existing homes in September, up 21.9 percent from 155 a year earlier, according to the NYSAR report. The median sale price rose 8.4 percent to $135,500 from $125,000 in September 2019.
In Jefferson County, realtors closed on the sale of 143 homes in September, up 32.4 percent from 108 a year ago. The median sale price rose 5.7 percent to $161,000 from $152,350 in September 2019, 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.