SOURCE: New York State Association of REALTORS

New York State Association of REALTORS

December 23, 2010 10:00 ET

New York State Home Sales Slow Down in November

ALBANY, NY--(Marketwire - December 23, 2010) - New York State home sales continued to slow in November, falling by more than 8 percent from October and by nearly 32 percent from the November 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. 

"The slowing sales trend is typical and expected for the seasonal housing market in New York State at this time of year," said Duncan R. MacKenzie, NYSAR chief executive officer. "Home sales tend to slow during the holiday season and are expected to continue to do so through the early part of the New Year. Those buyers who remain active during the winter months, however, will benefit from continuing favorable affordability conditions and still-low mortgage rates."

"The good news in November is for sellers as monthly median sales prices continued to show year-over-year growth," said MacKenzie. "We continue to see a trend of increased activity across a broader price spectrum as buyers are returning to higher priced segments of local markets as opposed to earlier in the year when most of the tax-credit generated activity was focused on the entry-level homes."

New York REALTORS® sold 5,260 existing single-family homes in New York State during November 2010, an 8.3-percent decrease compared to the October 2010 sales total of 5,735. The October 2010 sales total was 31.7-percent below the November 2009 total of 7,705.

The October 2010 median sales price in New York State of $225,000 represents an increase of 4.7 percent compared to the October 2010 median of $215,000, and an increase of 12.5 percent from the November 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