DataMarkets & Economy

New York State’s supply of homes continues to fall

New York State Association of Realtors releases statewide housing statistics for July
  • New York State home sales figures slid 11.1 percent in July on a year-to-date basis since 2015, according to the report.
  • Hamilton County was the only county to have a reported decrease in months supply of homes in July 2016 compared with the same month in 2015.
  • The biggest annual uptick in median sales price was reported in Chautauqua County, which saw a rise of 39.6 percent to $120,000.

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More is not always better, and that's the case when it comes to the New York State real estate market this July. According to a new report from the New York State Association of Realtors (NYSAR), New York State's home sales figured dropped year-over-year in July. However, the report also says median sales price increased 8.1 percent annually in July 2016. “The New York State housing market has been performing at a very high level in 2016, and July was no exception despite falling short of the exceptional 2015 July sales total,” NYSAR CEO Duncan R. MacKenzie said in a statement. “The 11,736 closed sales represents the third strongest July in the past decade, and through the first seven months statewide sales are 11 percent ahead of the same point in 2015.” The biggest uptick seen year-to-date in July 2016 was pending sales, which climbed 12.7 percent. During this same time frame, new listings dipped 4.9 percent to 134,288. On an annual basis in July, that category sa...