SOURCE: New York State Association of REALTORS

New York State Association of REALTORS

November 24, 2010 10:00 ET

New York State Home Sales Fall in October

ALBANY, NY--(Marketwire - November 24, 2010) -  New York state home sales fell by 7 percent in October from the previous month and were nearly 30-percent off the October 2009 sales pace, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS®. The statewide median sales price continued to rebound from a year ago, despite falling from September. 

"The current unstable economic conditions are keeping many would-be buyers on the sidelines," said Duncan R. MacKenzie, NYSAR chief executive officer. "The reality is that now is a great time to be a homebuyer in New York state. Buyers can enjoy the benefits of low mortgage rates, a wide selection of available inventory and improved affordability."

"The October housing market data does provide a positive indicator for sellers," said MacKenzie, noting the continuing trend of statewide median sales price growth from a year ago, which points to broader sales activity taking place across all market price segments.

New York REALTORS sold 5,694 existing single-family homes in New York State during October 2010, a 7-percent decrease compared to the September 2010 sales total of 6,120. The October 2010 sales total was 29.3-percent below the October 2009 total of 8,059.

The October 2010 median sales price in New York State of $215,850 represents a decrease of 4.1 percent compared to the September 2010 median of $225,000, and an increase of 7.9 percent from the October 2009 median of $200,000.

Complete data is available at http://www.nysar.com/content/Press.htm.

The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 52,000 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 Information

  • For additional information, contact:
    Salvatore I. Prividera Jr.
    Director of Communications and Marketing
    New York State Association of REALTORS, Inc.
    130 Washington Avenue
    Albany, NY 12210
    518-463-0300x208 office
    sprividera@nysar.com