New York home sales, prices climb in April

New York realtors’ completed sales of existing single-family homes, townhomes, and condos rose 8.5 percent in April compared to the year-ago period, while the median price and pending sales rose 10 percent and 19 percent, respectively.

That’s according to data the New York State Association of Realtors (NYSAR) released on Wednesday.

Closed sales year-to-date are 5.4 percent ahead of the first four months of 2012, the realtors’ group said.

The numbers support what New York realtors have been reporting on “strong” buyer activity, Duncan MacKenzie, CEO of NYSAR said in a news release.

“The gains may have been higher had inventory not been constrained. The number of homes for sale across the state is 17.7-percent below the April 2012 level,” MacKenzie noted.

New York realtors posted more than 7,100 closed sales in April, up eight percent from the April 2012 total of more than 6,500 homes sold. The year-to-date (Jan. 1 to April 30) sales total of nearly 26,000 represents a five percent increase from the same period last year.

The statewide median-sales price reached nearly $219,000 in April, an increase of 10 percent compared to the April 2012 median of $199,000. The increase marks 11 straight months of rising or stable year-over-year median-price comparisons, NYSAR reported.

The year-to-date (Jan. 1 to April 30) median-sales price of $217,000 represents a six percent increase from the same period last year.

Pending home sales jumped nearly 20 percent to nearly 11,400 in April compared to almost 9,500 in April 2012, according to NYSAR.

The months supply of inventory dropped 25 percent in April to an almost 10 months supply. It was at 13 months in April 2012.

A six-month to 6.5-month supply is considered to be a balanced market. Inventory stood at more than 84,100 units in April, a decrease of 18 percent compared to April 2012, NYSAR said.

NYSAR also released April home-sales data for individual counties.

In Broome County, realtors closed 81 home sales in April, down almost 20 percent from 101 a year ago. But the median sales price rose 8 percent to more than $108,000.

In Onondaga County, realtors closed 281 home sales in April, up 0.7 percent from 279 in the year-earlier period. The median-sales price rose more than seven percent to $153,750.

In Oneida County, closed home sales fell 3.9 percent to 99 in April, compared to 103 in the year-ago period. The median-sales price rose more than 8 percent to just over $116,000.

Albany–based NYSAR is a nonprofit trade organization representing more than 47,000 New York realtors.

Contact Reinhardt at ereinhardt@cnybj.com