New York home sales up, inventory down at 2016 midway point

  • With the first half of the year's sales up over 15 percent, NYSAR expects statewide sales to hit 100,000 for the second year in a row.
  • The statewide median price reached $230,000 in both the first half and second quarter, up 2.2 percent from last year's mid-way point and 2.4 percent from last year's second quarter.
  • Closed sales in June showed a 9.6 percent year-over-year increase, reaching 12,176.

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The second quarter of 2016 helped the New York state housing market move up, with year-to-date sales up 15.4 percent from 2015, according to the New York State Association of Realtors (NYSAR). The association expects New York home sales to hit 100,000 for the second year in a row.