New York State recorded 8,207 closed home sales in November, down 9.1% from the 9,030 transactions recorded one year before.
According to data from the New York State Association of Realtors, pending sales edged lower by 0.7%, from 7,810 accepted offers in November 2024 to 7,757 last month. New listings totaled 8,352 in November, down 2.4% 8,555 homes coming onto the market one year ago. Housing inventory was up by 0.9% to 27,715 properties last month versus the 27,467 homes available in the prior year.
While sales dipped, home prices continued to rise. The median sales price increased 5.0%, rising from $400,000 in November 2024 to $420,000 last month. This marked the 28th consecutive month of rising median home prices in year-over-year comparisons.
Photo: Dennis Tangney Jr. / Getty Images
