Industry News

Real estate prices surge in New York

Median home value grows 32% during last 12 months

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The median selling price of a single-family home in New York rose more than 32 percent in May compared to the same month a year ago, while single-family home sales increased 4.9 percent from a year ago, according to preliminary single-family sales data accumulated by the New York State Association of Realtors. The statewide median selling price rose 32.5 percent in May 2004 to $229,900, compared to the $173,450 median recorded in May 2003. The May 2004 median price increased 7.4 percent from the previous month, which recorded a median sales price of $214,000.   Forty-two counties reported gains in median selling price in May 2004 compared to May 2003, while 36 counties reported gains from April 2004. Lewis County led the state in median sales price growth in May 2004, recording a 69.3-percent increase compared to the same period a year earlier. Steuben County recorded the largest median sales price growth from April 2004, recording an 84.8 percent increase. The May 2004 s...