New York home sales dip in February; CNY sales also fall

ALBANY, N.Y. — New York realtors sold 9,009 previously owned homes in February, down 11.2 percent from the 10,148 homes they sold in February 2021.

However, pending sales rose more than 4 percent in February, pointing to a possible rise in closed sales going forward. That’s according to the recent New York State Association of Realtors (NYSAR)’s February housing-market report.

New York sales data

Pending sales, which represent signed contracts on homes, totaled 10,358 in February, up 4.2 percent from pending sales of 9,938 in the same month in 2021, according to the NYSAR data. That indicates that closed sales could rise one or two months from now.

New listings rose 3.8 percent to 11,658 in February from 11,226 in February 2021. It was the first time since May 2021 that new listings were up in year-over-year comparisons, according to NYSAR.

The February statewide median sales price was $400,000, up 12.7 percent from $355,000 in February 2021.

The months’ supply of homes for sale at the end of February stood at 2.3 months, down 30 percent from 3.3 months a year earlier. A 6 month to 6.5-month supply is considered to be a balanced market, NYSAR said.

The inventory of homes for sale totaled 29,435 in February, down 26.2 percent from 39,864 in February 2021.

Central New York data

Realtors in Onondaga County sold 297 previously owned homes in February, down 6.9 percent from the 319 homes they sold in the same month in 2021. The median sales price rose 11.4 percent to $174,900 from $157,000 a year prior, according to the NYSAR report.

The association also announced that realtors sold 115 homes in Oneida County in February, down 25.8 percent from the 155 they sold during February 2021. The median sales price increased 3.7 percent to $165,877 from $160,000 a year earlier.

Realtors in Broome County sold 114 existing homes in February, down 18 percent from 139 a year ago, according to the NYSAR report. The median sales price rose 6.3 percent to $143,500 from $135,026 a year ago.

In Jefferson County, realtors closed on 90 homes in February, down 5.3 percent from 95 a year earlier, and the median sales price of $178,750 was up 25 percent from $143,000 a year ago, 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.