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NY home sales up 12 percent in May from year ago

New York realtors sold 7,889 previously owned homes across the state in May, up 11.8 percent from the year-ago period, when they closed 7,056 sales, according to data released today by the New York State Association of Realtors (NYSAR).

May’s higher number of homes moving off the market contributed to a rise in year-to-date home sales through the first five months of 2012. Realtors sold 32,192 homes through the end of May, an increase of 5.7 percent from the 30,463 homes they sold in the first five months of 2011.

The statewide median sale price held relatively steady this May, dipping 1 percent to $208,000 from $210,000 in the year-earlier period.


NYSAR revamped the statistics it releases with its May sales report. The figures now include townhomes, condominiums, and existing single-family homes. Previous reports only included existing single-family homes, but the past data has now also been expanded to include townhomes and condominiums to allow for comparison.

The state realtor association also published new metrics in its report. They include the number of pending sales, which spiked 13.4 percent this May. Realtors logged 9,917 pending sales at the end of May 2012, up from 8,744 pending sales in the same month last year.

 “The overall housing market in New York State continues to show signs of improvement,” NYSAR CEO Duncan MacKenzie said in a news release. “We are encouraged that the typically busy summer months will be strong, as indicated by this May’s 13-percent jump in pending sales over last year.”

Home sales in Central New York’s biggest counties moved in different directions this May. Sales fell in Broome County but rose in Oneida and Onondaga counties.

In Broome County, realtors closed 103 sales this May, a decrease of 8.8 percent from the year-ago period, when they sold 113 homes. However, the median sale price jumped 18.7 percent to $118,000 in May 2012, from $99,450 in May 2011.

Oneida County home sales increased 18 percent in May 2012. Realtors sold 131 homes during the month, 20 more than the 111 sold during the same month of the previous year. And the county’s median sale price climbed, edging up 1.4 percent to $111,000 in May. It had been $109,500 in the year-ago period.

Realtors in Onondaga County also closed a higher number of sales. Onondaga County home sales totaled 373 this May, up 19.2 percent from 313 a year ago. The median sale price in the county slipped 1.2 percent to $129,250 this May from $130,850 a year earlier.


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