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New York Housing Market Slows in April
Sales of existing single-family homes in New York State in April slowed compared to April 2006, while the median sales price increased by more than 7 percent compared to April 2006, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS ®.
The April 2007 sales total of 6,677 represents a 6.9-percent decrease compared to the April 2006 sales total of 7,174. The April 2007 total represents a 5.5-percent decrease compared to the March 2007 sales total of 7,063.
The April 2007 statewide median sales price of $252,500 jumped 7.4-percent compared to the April 2006 median sales price of $235,000. The April 2007 median represents a 1.8- percent increase compared to the March 2007 statewide median sales price of $248,000.
Sales gains were reported in 21 counties compared to April 2006, while 27 reported growth compared to March 2007.
Thirty-seven counties reported gains in median selling price compared to April 2006, while 28 posted gains compared to the previous month.
"As we enter the typically strong late spring and summer months, the outlook for the market is positive with healthy sales activity and a moderation in sales price," said Charles M. Staro, NYSAR chief executive officer. "The fall-off in April sales following an exceptional March was expected as pentup demand was relieved earlier than usual."
The New York State Association of REALTORS® is d not-for-profit trade organization representing more than 64,000 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®.
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