New York State housing market holds on to price gains in November

Albany, New York, UNITED STATES


ALBANY, N.Y., Dec. 19, 2018 (GLOBE NEWSWIRE) -- The New York statewide median home sales price continues to trend on a positive note, rising sharply in November, according to the housing market report released today by the New York State Association of REALTORS®. November’s median sales price rose 10-percent from November 2018 to $275,000. November marks the 34th consecutive month that the median sales price has topped the same month of the prior year.

The 2018 market trends of incremental median price growth and relatively steady sales activity continued through November. Closed sales in November 2018 dropped 6.6-percent to 10,576 homes as compared to November 2017.  Year-to-date sales are trailing the same period last year by 2.3-percent

New listings were up 1.0 percent to 12,346 while the year-to-date (Jan.1 – Nov.30) number of new listings has also inched higher, rising 1.2 percent to 196,933.

November 2018 month’s supply of inventory rose marginally 1.7 percent from 5.9 months to 6.0 month’s supply. A 6 month to 6.5-month supply is considered to be a balanced market. Days on market dropped 9.1 percent to 70 days which is closely in line with the year-to-date figure of 73 days.

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® is a not-for-profit trade organization representing more than 57,000 of New York State’s real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®.

Contact:

Scott Morlock
Director of Communications
518-463-0300x208 office
smorlock@nysar.com