Sales of existing single-family homes in New York rose more than 10 percent in November from their year-ago level, while the median selling price grew more than 21 percent, according to preliminary single-family sales data accumulated by the New York State Association of Realtors.
The November 2004 sales total of 8,312 represents a 10.8 percent increase compared to the November 2003 sales total of 7,500. The November 2004 sales total fell 5.4 percent from the 8,784 sales total posted in October 2004.
The statewide median selling price rose 21.2 percent in November 2004 to $246,072 compared to the $203,000 median recorded in November 2003. The November 2004 median price increased 7 percent from the previous month, which recorded a median sales price of $230,000.
Sales gains were reported in 34 counties in November 2004 compared to the same period a year earlier, while 25 counties reported growth from the previous month. Allegany County led the state in sales growth percentage compared to November 2003, recording an increase of 160 percent. Franklin County recorded an increase of 150 percent in sales growth percentage from October 2004.
Forty-seven counties reported gains in median selling price in November 2004 compared to November 2003, while 21 counties reported gains from October 2004. Essex County led the state in median sales price growth in November 2004, recording a 58.9 percent increase compared to the same period a year earlier. Seneca County recorded the largest median sales price growth from the previous month, recording a 46.9 percent increase.
“After an early fall return to normal sales levels, the New York state housing market posted unusually strong numbers in November, which is traditionally the beginning of the seasonal slowing of sales in the Northeast,” said Charles M. Staro, NYSAR chief executive officer. “The combination of continued favorable mortgage rates and unusually strong buyer activity at this time of the year will result in the 2004 market finishing among the top markets ever in our state.”
The New York State Association of Realtors is a not-for-profit trade organization representing more than 55,000 of the state’s real estate professionals.
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