The inventory of homes for sale across New York State shrank by 10.2% in January from 39,544 homes available in 2023 to 35,492 units on the market in 2024, according to new data from the New York State Association of Realtors. This marked the 11th consecutive month that inventory has fallen in New York in year-over-year comparisons.
New listings fell 1.5% from 9,423 listings in January 2023 to 9,279 homes last month. Closed sales were down 3.8% year-over-year from 7,486 in January 2023 to 7,2023 homes last month. Pending sales were up by 8.9% from 6,629 sales in January 2023 to 7,221 homes last month.
The median price of homes went up 9.6% in January to $400,000 from the $365,000 median price in January 2023.
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