New York's housing market experienced a double-digit sales increase in February from a year earlier, even while sales declined from January.
According to the New York State Association of Realtors, existing single-family home sales by its members in February grew 9.6% to 4,521 from 4,124 from the year-ago period. The figure is 2.6% behind the prior month’s total of 4,639.
Median sales price in the Empire State have remained above $200,000 since May 2011. At $220,000, the median price is 8.3% below the year-earlier median of $239,900 but 6.3% higher than $206,960 in December.
“For the third-straight month, the statewide median sales price has increased and is at the highest point since September 2011,” said Duncan MacKenzie, CEO of the trade group. “Despite some fluctuation, the monthly statewide median has remained above $200,000, providing a positive indicator for the market.”
Chenango, Washington, Essex, Schuyler, Lewis, Madison and Otsego counties all had triple digit gains from a year earlier in terms of homes sold in the state. Chenango county had the highest gain at 182%.