AgentMarkets & Economy

New York home sales continue growth in April

Both Brooklyn and Queens dropped in closings but grew in median price
  • New York sales grew 9 percent year-over-year in April.
  • New York state's median sales price was $220,000 in April, up 1.9 percent since April of 2015’s median sales price of $216,000.
  • The median price in Kings County (Brooklyn) jumped 22.7 percent, hitting $470,000 from a previous $383,300 last April.
  • Median sales price in Queens increased 11.9 percent in April to reach $449,000.

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New York state home sales growth reached 15 consecutive months of growth in April, according to the New York State Association of Realtors (NYSAR) April housing report. New York sales grew 9 percent year-over-year in April, the report says, and the statewide median sales price increased 2 percent during the same period. “The New York state housing market has been on an upward sales trajectory since February 2015, and we anticipate this trend to continue into the busy summer season,” NYSAR CEO Duncan R. MacKenzie said.  “With the number of homes for sale currently low in many areas, sellers have a great opportunity under the current market conditions.” In April, there were 8,403 closings in the state, up 8.9 percent from April 2015. Pending sales saw an increase of 15.9 percent to reach 13,354 homes on the market. The median sales price across the Empire State was $220,000 in April, up 1.9 percent since last April’s median sales price of $216,000. Month’s sup...