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ALBANY, N.Y., March 25, 2019 (GLOBE NEWSWIRE) -- The median sales price in New York State continued to rise in February, increasing 9.8-percent from this time last year, according to the housing market report released today by the New York State Association of REALTORS®. The $280,000 median sales price last month is the highest for a month since January 2007 when the median sales price stood at $290,000.
Though pending sales decreased 1.5-percent to 8,915 units compared to the same time last year, they are up 1.3-percent year-to-date to 17,460. Closed sales were down 9-percent to 7,080 from February of 2018.
Looking forward, there are encouraging signs for home owners. According to Freddie Mac, the rate for a 30-year fixed rate mortgage dropped for the third consecutive month to 4.37-percent. This is the lowest rate since February 2018 when it was 4.33-percent.
New listings were down 4.1 percent to 13,562 while inventory grew 0.7 percent to 60,966 units.
Additional data is available at http://www.nysar.com/industry-resources/market-data
Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums and existing single-family homes.
The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 55,000 of New York State’s real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®.
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