ALBANY, N.Y. — New York state realtors completed the sale of more than 8,400 previously owned homes in April, up almost 9 percent from the year-ago period.
That’s according to the latest housing-market report issued by the New York State Association of Realtors (NYSAR).
The New York housing market has been on an “upward” sales trajectory since February 2015 and NYSAR anticipates this trend will continue into the “busy” summer season, Duncan MacKenzie, CEO of NYSAR said in the organization’s report.
(Sponsored)
Avoid the Employment Law Mistakes that Threaten Your New Business
Amid the excitement and uncertainty that accompany the opening of a new business, entrepreneurs often overlook basic employment law requirements that can cost them dearly. These include how they classify
How Technology Management Can Expedite Your Business Growth
Many business leaders find themselves asking the same question: “How do I foster growth for my company?” The answer typically yields many paths and variables both controllable and uncontrollable. Technology
He continued, “New York’s realtors are reporting strong buyer activity across the state, which is reflected in the nearly 16-percent growth in pending sales compared to a year ago. With the number of homes for sale currently low in many areas, sellers have a great opportunity under the current market conditions.”
Statewide data
The April 2016 sales total of 8,403 homes sold statewide was up 8.9 percent from the April 2015 total of 7,714 homes, according to NYSAR’s data.
The April statewide median sales price was $220,000, up 1.9 percent from a year ago.
Pending sales during April increased nearly 16 percent from a year prior to reach 13,354.
The available supply of homes for sale dropped 23 percent at the end of April to 7 months of supply from 9.1 months at the end of April 2015.
NYSAR considers a 6-month to 6.5-month supply a “balanced” market. Housing inventory totaled 76,598, a decrease of 10.8 percent compared to April 2015, NYSAR said.
Central New York data
In Central New York’s four largest counties, the housing sales data was mixed for April.
Realtors in Broome County sold 110 existing homes in this year’s fourth month, down 6 percent from 117 in April 2015, according to the NYSAR report. The median sales price rose nearly 15 percent to more than $108,000 from more than $94,000 a year ago.
In Jefferson County, realtors closed on 59 homes in April, up 25 percent from 47 a year ago, but the median sales price fell more than 8 percent to more than $137,000 from $150,000 in April 2015.
NYSAR also reported that realtors sold 103 homes in Oneida County last month, down 8 percent from 112 in April 2015. The median sales price fell 12 percent to more than $97,000 from more than $110,000 a year ago.
In Onondaga County, sales of previously owned homes declined more than 1 percent to 335 in April from 339 a year earlier, and the median sales price decreased about 2 percent to nearly $130,000 from $133,000 a year earlier, according to the NYSAR report.
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
