ALBANY, N.Y. — The real-estate market in New York state stayed hot in June as realtors sold 13,111 previously-owned homes in the month, up 55.4 percent from the 8,436 homes they sold in June 2020. House prices also continued to jump as inventory remained tight. Pending sales in the state rose about 11 percent in […]
ALBANY, N.Y. — The real-estate market in New York state stayed hot in June as realtors sold 13,111 previously-owned homes in the month, up 55.4 percent from the 8,436 homes they sold in June 2020. House prices also continued to jump as inventory remained tight.
Pending sales in the state rose about 11 percent in June, which indicates that increases in closed sales may moderate in the coming months.
The numbers come from the New York State Association of Realtors (NYSAR)’s June housing-market report issued July 22.
“Median sales prices continued to rise in the Empire State in June while the number of homes available remained at record lows,” NYSAR said to open its report.
Sales data
Pending sales totaled 16,481 in June, up 11.3 percent from 14,814 in the same month in 2020, according to the NYSAR data.
The statewide median sales price soared more than 28 percent to $385,000 in June, from the June 2020 median sales price of $300,000.
The months’ supply of homes for sale at the end of this June stood at 3 months, down 43 percent from 5.3 months a year ago, per NYSAR. A 6 month to 6.5 month supply is considered to be a balanced market.
The inventory of homes for sale totaled 42,598 in June, off 21 percent from 53,939 in June 2020.
Central New York data
Realtors in Onondaga County sold 451 previously owned homes in June, up about 35 percent from the 333 homes sold in the same month in 2020. The median sales price rose about 21 percent to nearly $200,000 from $165,000 a year ago, according to the NYSAR report.
The association also reports that realtors sold 167 homes in Oneida County in June, up nearly 37 percent from the 122 they sold during June 2020. The median sales price increased about 20 percent to more than $170,000 from over $142,000 a year ago.
Realtors in Broome County sold 167 existing homes in June, up almost 88 percent from 89 a year ago, according to the NYSAR report. The median sales price rose about 36 percent to more than $147,000 from in excess of $108,000 a year ago.
In Jefferson County, realtors closed on 165 homes in June, up about 68 percent from 98 a year prior, and the median sales price of $180,000 was up about 8 percent from more than $166,000 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.
