New York State's November Home Sales Outpace Prior Year Activity

New York State's November Home Sales Outpace Prior Year Activity

Residential News » North America Residential News Edition | By David Barley | December 27, 2011 11:28 AM ET

According to the New York State Association of Realtors (NYSAR), New York State November home sales increased nearly 3 percent from last November, while the median sales price dipped slightly compared to November 2010. The number of homes sold in November dropped from October 2011 as the market began a typical seasonal slowdown.

"The November data show a continuation of median sales price stability across New York State as the statewide median sales remained on par with October and dipped only slightly from a year ago," said Duncan R. MacKenzie, NYSAR chief executive officer. "It is encouraging, overall, that sales increased slightly from last November, despite the decline from October."

"The seasonal nature of the housing market across our state typically results in a slowdown in sales starting in the fall and this year was no exception," said MacKenzie. "Sales activity traditionally remains slower through the winter months, and barring any dramatic change in economic conditions, we anticipate this will be the case into early 2012."

New York Realtors sold 5,732 existing single-family homes in November 2011, an increase of 2.9 percent from November 2010. The November 2011 sales total fell 6.8 percent from the October 2011 total of 6,151.

The November 2011 median sales price was $210,000, which represents a 2.3-percent decrease from the November 2010 median of $215,000. The November median was virtually unchanged from the October 2011 median of $209,900.

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