New York home sales decline in September, CNY numbers mostly down

ALBANY, N.Y. — New York realtors sold nearly 10,700 previously-owned homes in September, down about 11 percent from more than 12,000 homes sold in September 2017.

A drop in the number of homes available for sale contributed to the sales decline, according to the New York State Association of Realtors (NYSAR)’s September housing-market report.

Sales data

As the housing supply tightened, home prices rose. The September 2018 statewide median sales price jumped to $270,000, up 8 percent from the September 2017 median of $250,000, according to the NYSAR data.

Pending sales totaled more than 10,300 homes in September, a decrease of 5.8 percent from a year ago.

The number of homes for sale in New York state totaled 72,288 in September, a decrease of 2.5 percent from September 2017.

The months’ supply of homes for sale dropped 3 percent at the end of September to 6.4 months’ supply. It stood at 6.6 months at the end of September 2017. A 6 month to 6.5 month supply is considered to be a balanced market, NYSAR says.

Central New York data

Realtors in Broome County sold 156 existing homes in September, up about 22 percent from 128 a year ago, according to the NYSAR report. The median sales price increased about 9 percent to nearly $120,000 from $110,000 a year ago.

In Jefferson County, realtors closed on 104 homes in September, down about 15 percent from 122 a year earlier, and the median sales price fell 2 percent to $137,000 from nearly $140,000 in September 2017, according to the NYSAR data.

The association also reports that realtors sold 194 homes in Oneida County last month, down about 13 percent from 224 sold during September 2017. The median sales price fell 3 percent to $127,000 from $131,000 a year ago.

Realtors in Onondaga County sold 440 previously owned homes in September, a sales decrease of about 10 percent from the September 2017 total of 486. The median sales price rose 1.3 percent to $151,000, up from $149,000 a year ago, according to the NYSAR report.

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