New York home sales decline nearly 8 percent in August

CNY numbers also fall in same period

New York realtors sold nearly 13,900 previously-owned homes in August, down 7.8 percent from the more than 15,000 homes sold in August 2017.

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

Sales data

The August 2018 statewide median sales price was $280,000, up nearly 6 percent from the August 2017 median of $265,000, according to the NYSAR data.

Pending sales totaled more than 12,800 homes in August, a decrease of 3.2 percent compared to the same month in 2017.

The months supply of homes for sale dropped to a 6.4 month supply in August from 6.6 months a year ago. A 6 month to 6.5 month supply is considered to be a balanced market, NYSAR says.

The number of homes for sale totaled 71,795 in August, down 3.7 percent from August 2017.

Central New York data

Realtors in Broome County sold 170 existing homes in August, down about 3 percent from 175 a year ago, according to the NYSAR report. The median sales price increased about 20 percent to nearly $126,000 from $105,000 a year ago.

In Jefferson County, realtors closed on 129 homes in August, down about 9 percent from 142 a year ago, and the median sales price increased nearly 16 percent to more than $156,000 from $135,000 in August 2017, according to the NYSAR data.

NYSAR also reports that realtors sold 195 homes in Oneida County in August, down about 12 percent from 222 homes sold in August 2017. The median sales price rose about 7 percent to $137,500 from $128,000 a year ago.

Realtors in Onondaga County sold 533 previously owned homes in August, down 16 percent from 638 a year prior. The median sales price rose 3.4 percent to $150,000 from $145,000 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.