Industry News

New York real estate market continues strong

Median home price climbs to $261,000 in July

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Sales of existing single-family homes in New York increased 4.6 percent in July 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 more than 24 percent compared to the same period a year earlier. The July 2004 sales total of 10,153 represents a 4.6 percent increase compared to the July 2003 sales total of 9,702. However, the July 2004 sales total slowed 1.4 percent from the 10,296 sales total posted in June 2004. The statewide median selling price rose 24.3 percent in July 2004 to $261,000, compared to the $210,000 median recorded in July 2003. The July 2004 median price increased 8.8 percent from the previous month, which recorded a median sales price of $240,000. Sales gains were reported in 33 counties in July 2004, compared to the same period a year earlier, while 29 counties reported growth from the previous month. Herkimer ...