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New York Housing Market Posts Solid August
Sales of existing single-family homes in New York state in August were up 8 percent compared to July, surpassing the 10,000-sale mark, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS ®. The statewide median sales price increased slightly compared to the previous month.
The August 2007 sales total of 10,353 represents an 8-percent increase compared to the July 2007 sales total of 9,590. The August 2007 total represents a 7.6-percent decrease compared to the August 2006 sales total of 11,203.
The August 2007 statewide median sales price of $255,000 represents a 2.1-percent increase compared to the July 2007 median sales price of $249,700. The August 2007 median represents a 1.9-percent decrease compared to the August 2006 statewide median price of $260,000.
Sales gains were reported in 42 counties compared to July 2007, while 25 reported growth compared to August 2006. Twenty-seven counties reported gains in median selling price compared to July 2007, while 38 posted gains compared to August 2006.
"The New York state housing market continues to do well as evidenced by the August sales figures and the steady median sales price," said Charles M. Staro, NYSAR chief executive officer. "August is typically a strong month, and with more than 10,000 sales closed, our statewide market, while slowing from record highs, is bucking the national trend. We continue to project solid sales totals through the end of 2007."
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