Monthly Home Sales Decline in New York but Higher than a Year Ago

January 12, 2012 (Shirley Allen)

Monthly sales of existing single-family homes in New York declined in November but remained slightly above year ago levels while home prices remained unchanged from the previous month and were slightly less than a year earlier according to the latest housing data from the New York State Association of Realtors® (NYSAR).

An estimated total of 5,732 existing single-family homes were sold in the Empire State in November. That was 6.8 percent lower than the 6.151 homes sold in October but still 2.9 percent higher than the 5,570 homes sold in November 2010.

The median sales price for an existing home in New York remained virtually unchanged in November at $210,000, up slightly from $209,900 in October, and was 2.3 percent lower than the median price of $215,000 in November of 2010.

Duncan R. MacKenzie, chief executive officer of NYSAR, stated, “The November data show a continuation of median sales price stability across New York State as the statewide median sales remained on par with October and dipped only slightly from a year ago. It is encouraging, overall, that sales increased slightly from last November, despite the decline from October.”

Through the first eleven months of this year there have been 65,588 existing homes sold in New York, 4.6 percent lower than the 68,716 homes sold during the same period last year.

Of the 40 Counties that provide data for the monthly report, 16 reported sales gains over the previous year with the largest gain posted in Schuler County (+163.6 percent) and the largest decline posted in Seneca County (-34.5 percent).

“The seasonal nature of the housing market across our state typically results in a slowdown in sales starting in the fall and this year was no exception,” MacKenzie added.

Tags: existing homes, condos, sales, median home prices, New York

Source:
NYSAR