New York’s closed & pending home sales jump in November

ALBANY, N.Y. — New York realtors sold 13,276 previously-owned homes in November, up 21 percent from 10,961 homes sold in November 2019, as the housing market continued to show strength amid a limited inventory of homes.

The growth of closed sales is also likely to continue as pending sales in November climbed more than 32 percent. 

That’s according to the New York State Association of Realtors (NYSAR)’s November housing-market report issued on Dec. 19.

“Closed sales continued to rise considerably year-to-year in the Empire State in November,” NYSAR said to open its housing-market report.

Sales data

Pending home sales totaled 12,405 in November, up 32.3 percent from 9,374 pending sales in the same month in 2019, according to the NYSAR data.

The November 2020 statewide median sales price was $335,000, up nearly 22 percent from the November 2019 median sales price of $274,900.

The months’ supply of homes for sale at the end of November stood at 3.9 months, down about 20 percent compared to a year ago, per NYSAR’s report. It was at 5.3 months at the end of November 2019.

A 6-month to 6.5-month supply is considered to be a balanced market, the association says.

The number of homes for sale totaled 48,054 in November, a decrease of about 21 percent compared to November 2019.

Central New York data

Realtors in Onondaga County sold 459 previously owned homes in November, up less than 1 percent from the 457 sold in the same month in 2019. The median sales price rose about 15 percent to more than $175,000, up from over $152,000 a year ago, according to the NYSAR report.

NYSAR also reports that realtors sold 189 homes in Oneida County in November, up about 10 percent from the 172 sold during November 2019. The median sales price increased about 20 percent to $156,000 from more than $130,000 a year before.

Realtors in Broome County sold 158 existing homes in November, up about 14 percent from 139 a year prior, according to the NYSAR report. The median sales price rose about 18 percent to nearly $140,000 from more than $118,000 in November 2019.

In Jefferson County, realtors closed on 129 homes in November, up about 11 percent from 116 a year ago, and the median sales price of $175,000 was up about 10 percent from nearly $160,000 a year earlier, 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.