Industry News

Real estate sales set record in New York

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Sales of existing single-family homes in New York increased in June by more than 27 percent compared to the previous month, according to preliminary single-family sales data accumulated by the New York State Association of Realtors. The sales total showed growth of more than 17 percent compared to a year ago, setting a new sales record for the month of June. The preliminary data also showed a median selling price increase of more than 34 percent compared to the same period a year earlier. The record-setting June 2004 sales total of 10,072 represents a 17.5 percent increase compared to the June 2003 sales total of 8,574. The June 2004 sales total rose 27.1 percent from the 7,922 sales total posted in May 2004. The statewide median selling price rose 34.4 percent in June 2004 to $250,000, compared to the $186,000 median recorded in June 2003. The June 2004 median price increased 19 percent from the previous month, which recorded a median sales price of $210,000.   Sales g...