New York state, CNY home sales slide in November

ALBANY, N.Y. — New York realtors sold more than 10,500 previously-owned homes in November, down about 7 percent from the more than 11,300 homes sold in November 2017. But home prices rose.

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

Sales data

The November 2018 statewide median sales price was $275,000, an increase of 10 percent from the year-ago median of more than $250,000, according to the NYSAR data.

Pending sales totaled more than 9,100 in November, down nearly 8 percent compared to the same month in 2017.

The months’ supply of homes for sale rose “marginally” at the end of November to a 6-month supply, from 5.9 months a year earlier. A 6 month to 6.5 month supply is considered to be a balanced market, NYSAR says.

The number of homes for sale totaled 67,081 in November, a decrease of 0.2 percent compared to November 2017.

Central New York data

Realtors in Onondaga County sold 389 previously owned homes in November, down nearly 14 percent compared to the November 2017 total of 451. The median sales price rose 7 percent to more than $149,000, up from more than $139,000 a year ago, according to the NYSAR report.

NYSAR also reports that realtors sold 145 homes in Oneida County last month, off about 33 percent compared to the 216 sold in November 2017. The median sales price rose more than 1 percent to $129,000 from $127,000 a year ago.

Realtors in Broome County sold 111 existing homes in November, down about 15 percent from 131 a year prior, according to the NYSAR report. The median sales price increased about 12 percent to $124,000 from more than $110,000 a year ago.

In Jefferson County, realtors closed on 88 homes in November, off about 19 percent from 109 a year ago. The median sales price fell 13 percent to $118,000-plus from more than $136,000 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.

Contact Reinhardt at ereinhardt@cnybj.com