New York state's real estate market 'healthy'

Sales of existing single-family homes in New York fell considerably from a year ago, while the statewide median home price grew at a normal clip, according to preliminary single-family sales data for August accumulated by the New York State Association of Realtors.

Realtors recorded 10,805 home sales in August, down 10.2 percent from the August 2005 sales total of 12,034, although sales were up from July 2006.

Year-over-year sales gains in August were reported in just 12 of the state's 54 counties, while 44 counties reported growth from July 2006, according to NYSAR.

The statewide median selling price gained 2.4 percent in August from a year earlier, rising from $265,000 to $271,350. In July, the median was $275,000.

Some 35 counties in August reported gains in median selling price from a year earlier, while 27 counties reported price increases from July 2006.

"The statewide housing market remained healthy in August, showing the expected slowing of sales from last August's record level and a slight reduction in median sales price," said Charles M. Staro, NYSAR chief executive officer, in a statement. "The market data continue to indicate a return to sustainable sales growth and a leveling of sales prices resulting from an increase in available inventory."

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