|By Marketwired .||
|September 22, 2016 10:00 AM EDT|
ALBANY, NY--(Marketwired - September 22, 2016) - Homes sold at a record-setting pace across New York State during August with 13,912 closed sales, according to the housing market report released today by the New York State Association of REALTORS
"With eight months in the books, sales are more than 11 percent ahead of last year and well on the way to surpassing the 100,000-mark for the fourth consecutive year," said Duncan R. MacKenzie, CEO of the New York State Association of REALTORS
"Low inventory conditions have not yet translated into a slowing of sales," MacKenzie said. "While mortgage rates and other market conditions are expected to remain favorable, we believe that buyers facing the challenge of fewer choices for their next home is a potential headwind for the market."
The year-to-date (Jan. 1 - Aug. 31) sales total of 82,791 was 11.3-percent above the same period last year. August 2016 closed sales increased by 8.1 percent compared to a year ago to reach 13,912.
The year-to-date (Jan. 1 - Aug. 31) statewide median sales price was $235,000, an increase of 2.2 percent from the same period in 2015. The August 2016 statewide median sales price of $257,291 represents an increase of 3.8 percent compared to the August 2015 median of $247,941.
August pending sales reached 13,113, up 13.1 percent compared to a year ago.
The months supply of inventory dropped 28.6 percent at the end of August to 7 months supply. It was at 9.8 months at the end of August 2015. A 6 month to 6.5 month supply is considered to be a balanced market. Inventory stood at 77,933, a decrease of 20.1 percent compared August 2015.
Additional data is available at http://www.nysar.com/industry-resources/market-data.
Editor's Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums and existing single-family homes.
The New York State Association of REALTORS
Salvatore I. Prividera Jr.
Director of Communications
Sep. 26, 2016 03:00 AM EDT Reads: 1,749
Sep. 26, 2016 03:00 AM EDT Reads: 922
Sep. 26, 2016 02:45 AM EDT Reads: 1,542
Sep. 26, 2016 01:45 AM EDT Reads: 1,660
Sep. 26, 2016 01:00 AM EDT Reads: 1,954
Sep. 26, 2016 01:00 AM EDT Reads: 1,613
Sep. 26, 2016 12:30 AM EDT Reads: 1,245
Sep. 26, 2016 12:30 AM EDT Reads: 1,537
Sep. 26, 2016 12:15 AM EDT Reads: 1,819
Sep. 25, 2016 10:45 PM EDT Reads: 1,584
Sep. 25, 2016 10:45 PM EDT Reads: 4,411
Sep. 25, 2016 10:00 PM EDT Reads: 1,700
Sep. 25, 2016 09:30 PM EDT Reads: 2,504
Sep. 25, 2016 09:00 PM EDT Reads: 931
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 25, 2016 07:30 PM EDT Reads: 2,617