ALBANY, N.Y. — New York realtors sold just over 11,000 previously-owned homes in March, up nearly 37 percent from more than 8,000 homes sold in March 2020. Pending sales in March jumped more than 59 percent, indicating continued strong closed sales of homes will continue in the next couple months. That’s according to the New […]
ALBANY, N.Y. — New York realtors sold just over 11,000 previously-owned homes in March, up nearly 37 percent from more than 8,000 homes sold in March 2020.
Pending sales in March jumped more than 59 percent, indicating continued strong closed sales of homes will continue in the next couple months.
That’s according to the New York State Association of Realtors (NYSAR)’s March housing-market report issued April 22.
“Closed and pending sales remained robust in March, marking the seventh straight month of gains in year-over-year comparisons,” NYSAR said.
Sales data
Pending home sales totaled 14,757 in New York state in March, an increase of 59.1 percent from 9,276 pending sales in the same month in 2020, according to the NYSAR data.
The roaring housing market sent home prices up sharply. The March 2021 statewide median sales price was $365,000, up 30 percent from the March 2020 median sales price of $280.000.
The months supply of homes for sale at the end of March stood at 2.9 months, down from 4.7 months at the end of March a year ago. A 6 month to 6.5 month supply is considered a balanced market, NYSAR says.
The inventory of homes for sale was 36,739 statewide in March, down 30 percent from 52,536 in the year-ago month.
Central New York data
Realtors in Onondaga County sold 297 previously owned homes in March, up more than 5 percent from the 282 homes sold in the same month in 2020. The median sales price rose nearly 8 percent to more than $167,000 from $155,000 a year ago, according to the NYSAR report.
The association also reports that realtors sold 152 homes in Oneida County in March, up nearly 37 percent from 111 homes sold in March 2020. The median sales price increased more than 16 percent to $147,500 from under $127,000 a year ago.
Realtors in Broome County sold 131 existing homes in March, up more than 32 percent from 99 homes a year prior, according to the NYSAR report. The median sales price rose over 6 percent to more than $122,000 from $115,000 a year before.
In Jefferson County, realtors closed on 109 homes in March, up over 31 percent from 83 in the year-ago month, and the median sales price of $170,000 was up nearly 46 percent from under $117,000 a year prior, 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.
