ALBANY, N.Y., Feb. 21, 2020 (GLOBE NEWSWIRE) -- Closed sales and pending sales were up in January in year-over-year comparisons, fueling optimism for a robust 2020 housing market, according to the housing market report released today by the New York State Association of REALTORS®.
Closed sales improved 4.1-percent to 9,204 units from 8,842 houses at the start of 2019. Pending sales were also up in year-over-year comparisons, escalating to 8,895 houses – a 5.6-percent increase over January 2019’s total of 8,421 homes.
The median sales price continued to appreciate as the calendar turned to 2020. The statewide median sales price was $300,000 – an increase of 9.1-percent from the January 2019 median of $275,000.
New listings were down to 14,370 homes – a 2.9-percent decrease from 14,806 homes in January of 2019.
The monthly average commitment rate for a 30-year fixed mortgage continues to be affordable, dropping to 3.62-percent in January according to Freddie Mac. Days on the market remained unchanged from January 2019 at 77 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 59,000 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
518-463-0300 x 208
smorlock@nysar.com
An Infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/69f29b70-facc-4edf-b996-e91891784cb9