Sales of existing single-family homes in New York slowed in September, while the median selling price grew more than 15 percent from a year ago, according to preliminary single-family sales data accumulated by the New York State Association of Realtors.
The September 2004 sales total of 8,897 represents a 6.1 percent decrease compared to the September 2003 sales total of 9,473. The September 2004 sales total fell 17.5 percent from the exceptionally high 10,779 sales total posted in August 2004.
The statewide median selling price rose 15.3 percent in September 2004 to $254,900 compared to the $221,000 median recorded in September 2003. The September 2004 median price increased 2 percent from the previous month, which recorded a median sales price of $250,000.
Sales gains were reported in 24 counties in September 2004 compared to the same period a year earlier, while 11 counties reported growth from the previous month. Clinton County led the state in sales growth percentage compared to September 2003, recording an increase of 150 percent. Schuyler County recorded an 80-percent increase in sales growth percentage from August 2004.
Forty-three counties reported gains in median selling price in September 2004 compared to September 2003, while 26 counties reported gains from August 2004. Lewis County led the state in median sales price growth in September 2004, recording a 54.2 percent increase compared to the same period a year earlier. Schoharie County recorded the largest median sales price growth from the previous month, recording a 21.6 percent increase.
“After three consecutive monthly sales totals in excess of 10,000 units, the New York housing market has returned to a strong, but sustainable, level in September,” said Charles M. Staro, NYSAR chief executive officer. “Through the end of the third quarter, the 2004 housing market sales total remains nearly 10 percent ahead of last year and is expected to finish among the top markets in recent years.”
The New York State Association of Realtors is a not-for-profit trade organization representing more than 55,000 of New York State’s real estate professionals.
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