New York home sales dip 3 percent in October, CNY numbers mixed

ALBANY, N.Y. — New York realtors sold 12,359 previously owned homes in October, a decline of 3 percent from 12,751 homes sold in October 2017.

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

Sales data

The October 2018 statewide median sales price was $260,000, up 6 percent from the October 2017 median of more than $245,000, according to the NYSAR data.

Pending sales totaled more than 11,600 homes in October, a decrease of 0.3 percent compared to the same month in 2017.

The months supply of homes for sale held steady at the end of October at 6.3 months supply. A 6 month to 6.5 month supply is considered to be a balanced market.

The number of homes for sale totaled 70,704 in October, down 1.3 percent compared to October 2017.

Central New York data

Realtors in Broome County sold 160 existing homes in October, up about 2 percent from 157 a year ago, according to the NYSAR report. The median sales price jumped about 15 percent to $121,000 from more than $105,000 a year ago.

In Jefferson County, realtors closed on 140 homes in October, up about 37 percent from 102 a year ago, and the median sales price remained unchanged at $150,000 compared to a year ago, according to the NYSAR data.

NYSAR also reports that realtors sold 200 homes in Oneida County last month, down about 12 percent from the 228 homes sold during October 2017. The median sales price rose about 5 percent to nearly $136,000 from $130,000 a year ago.

Realtors in Onondaga County sold 490 previously owned homes in October, a sales decrease of about 5 percent compared to the October 2017 total of 516. The median sales price rose 5 percent to $145,000, up from nearly $138,000 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

Image credit: www.nysar.com