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New York home sales edged up nearly 2 percent in February

By Eric Reinhardt

Date:

CNY numbers mixed        

Source: NYSAR

ALBANY — New York realtors sold 7,563 previously owned homes in February, up 1.7 percent from the 7,437 homes sold in February 2019.

That’s according to the New York State Association of Realtors’ (NYSAR) February housing-market report issued March 20.

The February data reflects a time before the coronavirus pandemic hit the state, necessitating a shutdown of non-essential businesses and much of daily life in the latter half of March. That impacted the residential real-estate industry with open houses and home showings curtailed. 

Sales data

The February 2020 statewide median sales price was $301,000, up 9.1 percent from the February 2019 median of $276,000, according to the NYSAR data.

Pending sales totaled more than 9,900 in February, an increase of nearly 13 percent compared to the same month in 2019.

The months’ supply of homes for sale at the end of February stood at 4.9 months supply, down about 12 percent compared to a year ago, per NYSAR’s report. It was at 5.6 months at the end of February 2019.

A 6-month to 6.5-month supply is considered to be a balanced market. 

The number of homes available for sale totaled 56,747 in February, down 8.9 percent from 62,318 homes a year ago.

Central New York data

Realtors in Onondaga County sold 219 previously owned homes in February, down about 16 percent compared to the 261 sold in the same month in 2019. The median sales price rose about 11 percent to more than $151,000, up from nearly $136,000 a year prior, according to the NYSAR report.

NYSAR also reports that realtors sold 87 homes in Oneida County in February, down about 7 percent from 94 a year before. The median sales price decreased about 2 percent to nearly $125,000 from more than $127,000 a year ago.

Realtors in Broome County sold 91 existing homes in February, up about 6 percent from 86 a year prior, according to the NYSAR report. The median sales price decreased about 9 percent to more than $96,000 from $106,000 in the year-earlier month.

In Jefferson County, realtors closed on 70 homes in February, up about 11 percent from 63 in February 2019, and the median sales price of $129,000 was down about 10 percent from $144,000 a year ago, according to the NYSAR data.

All home-sales data is compiled from multiple-listing services in New York state and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.       

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