Albany, NY –July 22, 2015 – The New York State housing market posted healthy gains in nearly all categories including sales, median selling price and pending sales during the first half of 2015, according to the housing market report released today by the New York State Association of REALTORS. Closed sales were up 3.4 percent in the first six months of 2015 compared to the same period last year, while the median sales price increased 3 percent and the number of pending sales jumped more than 12 percent.
“Nearly all of the market indicators are moving in a positive direction as we close the books on the first half of 2015,” said Duncan R. MacKenzie, CEO of the New York State Association of REALTORS. “We expect these trends to continue through the typically active summer market, particularly if the growth in selling price entices more homeowners, who have been waiting on the sidelines, to list their homes.”
The year-to-date (Jan. 1 – June 30) sales total of 46,866 was 3.4-percent above the same period last year. The second quarter 2015 sales total was 2.7-percent ahead of the 2014 pace, reaching 26,558. The June 2015 sales total of 10,357 was up slightly from June 2014.
The year-to-date (Jan. 1 – June 30) statewide median sales price was $226,500, which represents a 3-percent gain from the same period in 2014. The second quarter median sales price was $225,000, an increase of 3.5-percent from the 2014 second quarter. The June median sales price was $237,301, a 5.5-percent jump compared to June 2014.
The months supply of homes for sale dropped 13 percent at the end of June to 9.4 months supply. It was at 10.8 months at the end of June 2014. A 6 month to 6.5 month supply is considered to be a balanced market. There were 91,988 homes listed for sale at the end of June, a decrease of 5.7 percent compared to June 2014.
Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums and existing single-family homes.
The New York State Association of REALTORS is a not-for-profit trade organization representing more than 50,000 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.
Salvatore I. Prividera Jr.
Director of Communications
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