Sales of existing single-family homes in New York increased 4 percent in April from the same month a year ago, according to preliminary single-family sales data accumulated by the New York State Association of Realtors. The preliminary data showed a median selling price increase of nearly 23 percent, compared to the same period a year earlier.
The April 2004 sales total of 6,752 represents a 4-percent increase compared to the April 2003 sales total of 6,490. The April 2004 sales total rose 1.6 percent from the 6,648 sales total posted in March 2004.
The statewide median selling price rose 22.9 percent in April 2004 to $220,000, compared to the $179,000 median recorded in April 2003. The April 2004 median price decreased 4.2 percent from the previous month, which recorded a median sales price of $229,675.
Sales gains were reported in 32 counties in April 2004 compared to the same period a year earlier, while 37 counties recorded increases from March 2004. Herkimer County led the state in sales growth percentage compared to April 2003, recording an increase of 183.3 percent. Cortland County recorded a 133.3 percent increase in sales growth percentage from March 2004.
Thirty-six counties reported gains in median selling price in April 2004 compared to April 2003, while 29 counties reported gains from March 2004. Herkimer County led the state in median sales price growth in April 2004, recording an 83-percent increase compared to the same period a year earlier. Lewis County recorded the largest median sales price growth from March 2004, recording a 127.1 percent increase.
“The New York State housing market continues to build strength as we move closer to the typically strong spring and summer seasons,” said Charles M. Staro, NYSAR chief executive officer. “Although there has been upward movement in mortgage rates, they are still very low by historical standards. These favorable rates and a continued demand for housing throughout the state have combined to drive the market.”
The New York State Association of Realtors is a not-for-profit trade organization representing more than 49,000 real estate professionals.
Send tips or a letter to the editor to firstname.lastname@example.org or call (510) 658-9252, ext. 124.