New York State Home Sales Enjoy Rare Uptick in April

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New York’s housing market enjoyed a spring revival in April as closed sales totaled 7,155 transactions, up 1.5% from 7,046 sales in April 2023. According to the New York State Association of Realtors, this is only the second time in the last 32 months when closed sales have risen in year-over-year comparisons.

Pending sales were also up: 9,946 units last month, up 6.3% from 9,357 sales one year ago. New listings of homes jumped 10% from last year’s level of 12,481 homes to 13,725 last month.

Median sales prices were also on the rise, up 9.5% from $378,000 in April 2023 to $413,750 last month. But the only downward motion came with inventory levels – 25,524 homes last month, a 9.4% drop from 28,179 units in April 2023.