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 gains were reported in 40 counties in June 2004 compared to the same period a year earlier, while 39 counties reported growth from the previous month. Greene County led the state in sales growth percentage compared to June 2003, recording an increase of 129.4 percent. Franklin County recorded a 162.5-percent increase in sales growth percentage from May 2004.
Forty-five counties reported gains in median selling price in June 2004 compared to June 2003, while 35 counties reported gains from May 2004. Herkimer County led the state in median sales price growth in June 2004, recording a 60.3-percent increase compared to the same period a year earlier. Allegany County recorded the largest median sales price growth from May 2004, recording a 504.5-percent increase.
“The New York state housing market continues to enjoy exceptional growth in 2004 as evidenced by the record-setting sales total for June,” said Charles M. Staro, NYSAR chief executive officer. “While the upward trend was expected to continue into the start of the traditionally busy summer sales season, the June total exceeded all expectations. Six months into the year the 2004 market is poised to finish among the top markets since NYSAR began tracking data nearly 20 years ago.”
The New York State Association of Realtors is a not-for-profit trade organization representing more than 52,000 real estate professionals.
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