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Empire State Third Quarter Home Sales Jump 17 Percent

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Year-to-date statewide sales (Jan. 1 – Sept. 30) were up 11.6 percent compared to the same period in 2012, reaching 78,745. There were 32,955 closed sales in the 2013 third quarter, up 17.4 percent from the 2012 total of 28,073. Closed sales in September 2013 were up 14.8 percent, reaching 9,364.

The year-to-date (Jan. 1 – Sept. 30) statewide median sales price of $226,000 represents a 5.1-percent increase from the same period a year ago. The 2013 third quarter median of $235,000 is 5.4 percent above the 2012 third quarter median. The September 2013 median sales price of $230,000 represents a 4.5-percent jump from the September 2012 median.

The month’s supply of inventory dropped 20.2 percent in September to 9.9 month’s supply. It was at 12.4 months in September 2012. A 6-month to 6.5-month supply is considered to be a balanced market. Inventory stood at 90,286 units in September 2013, a decrease of 11.2 percent compared to September 2012.

Additional data is available here.

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