New York state home sales tumble 29 percent in April

CNY & national sales also fall sharply due to COVID-19  

The COVID-19 pandemic took a big bite out of April homes sales across the state, locally, and nationally.

New York realtors sold 6,626 previously-owned homes in April, down 29.3 percent from 9,374 homes sold in April 2019. New listings and pending sales fell even more sharply. That’s according to the New York State Association of Realtors (NYSAR) April housing-market report issued May 21.

“As expected, the COVID-19 pandemic decimated the New York State housing market in April as new listings and pending sales both fell over 65 percent,” the association said in the housing report.

In comparison, existing-home sales nationally dropped about 17 percent in April compared to a year prior, “continuing what is now a two-month skid in sales brought on by the coronavirus pandemic,” according to the National Association of Realtors (NAR). Existing-home sales in April totaled 4.33 million, down from 5.23 million in April 2019, NAR said.

New York state sales data

The April 2020 statewide median sales price in New York was $262,000, down nearly 3 percent from the year-ago median of $269,000, according to the NYSAR data.

With guidance in place not allowing for in-person home showings across New York state, new listings fell more than 68 percent in April to 6,507 from 20,600 in the year-ago month.

Pending sales totaled 4,287 in April, off nearly 67 percent from 12,825 pending sales in the same month in 2019.

The months’ supply of homes for sale at the end of April stood at 5.2 months, down more than 10 percent from 5.8 months at the end of April 2019.

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

The inventory of homes for sale totaled 53,041 in April, down more than 17 percent from 64,357 a year prior.

Central New York data

Realtors in Onondaga County sold 301 previously owned homes in April, down 9 percent compared to the 331 sold in the same month in 2019. The median sales price rose 7 percent to nearly $159,000 from more than $148,000 a year ago, according to the NYSAR report.

NYSAR also reports that realtors sold 91 homes in Oneida County in April, down nearly 22 percent from the 116 homes sold in April 2019. The median sales price increased 12.5 percent to $135,000 from $120,000 a year ago.

Realtors in Broome County sold 106 existing homes in April, down nearly 9 percent from 116 a year prior, according to the NYSAR report. The median sales price dipped nearly 2 percent to more than $113,000 from $115,000 a year before.

In Jefferson County, realtors closed on 71 homes in April, down more than 15 percent from 84 a year ago, and the median sales price of $141,000 was down nearly 4 percent from $146,500 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.