ALBANY, N.Y. — New York realtors sold 9,796 previously-owned homes in February, up 24 percent from 7,898 homes sold in February 2020.
Pending sales in February rose more than 17 percent in the same period. The data comes from the New York State Association of Realtors (NYSAR)’s February housing-market report issued March 22.
It was the fifth straight month of sales growth in year-over-year comparisons, NYSAR said.
Pending sales totaled more 10,938 in February, up 17.2 percent from 9,336 pending sales in the same month in 2020, according to the NYSAR report.
The strong demand amid limited home supply led to strong price increases.
The February 2021 statewide median sales price was $360,000, up about 22 percent from the February 2020 median of $295,000.
The months supply of homes for sale at the end of February stood at 3 months, down 36.2 percent from 4.7 months at the end of February 2020.
A 6 month to 6.5 month supply is a balanced market, the association says.
The inventory of homes for sale totaled 36,717 in February, down 31.5 percent from 53,614 in the year-prior month.
Central New York data
Realtors in Onondaga County sold 298 previously owned homes in February, up nearly 31 percent from the 228 sold in the same month in 2020. The median sales price rose 4.2 percent to $156,250 from $150,000 a year earlier, according to the NYSAR report.
NYSAR also reports that realtors sold 152 homes in Oneida County in February, a jump of 61.7 percent from the 94 sold during February 2020. The median sales price increased 28 percent to $160,000 from $125,000 a year ago.
Realtors in Broome County sold 135 existing homes in February, up 39.2 percent from 97 a year before, according to the NYSAR report. The median sales price soared 38.2 percent to $135,476 from $98,000 in the year-earlier period.
In Jefferson County, realtors closed on the sale of 92 homes in February, up 27.8 percent from 72 a year before, and the median sales price of nearly $148,950 was up 16.5 percent from nearly $127,800 in February 2020, 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.