Home sales were up for the second consecutive month across New York State, with new listings and median sales prices also on the rise.
According to data from the New York State Association of Realtors, closed home sales statewide were up by 3.1% from 7,395 in January 2024 to 7,625 homes last month. However, pending sales dropped by 4.9% to 6,520 sales last month from 6,855 pending sales in January 2024.
New listings inched up 0.5% to 9,125 in January from 9,078 listings one year ago. But the inventory of homes for sale fell to 22,876 in January from 23,640 active listings one year earlier, a 3.2% decline.
Median sales prices swelled by 10.5% to $420,000 from $380,000 one year earlier. This marked the 18th consecutive month where the median price was up in year-over-year comparisons.
