Albany – April 23, 2008 – Sales of existing single-family homes in New York State in March increased by more than 10 percent compared to February, but lagged behind March 2007, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS.
New York REALTORS sold 5,035 existing single-family homes in March 2008, a 10.1-percent increase compared to the 4,575 sales recorded in February. The March sales total represents a 29-percent decrease compared to the March 2007 total of 7,094.
The March 2008 median selling price of $210,000 represents a 6.7-percent decrease from the February median of $225,000. The March 2008 median selling price represents a 14.7-percent decrease compared to the March 2007 median of $246,150.
In March 2008 sales gains were reported in 31 counties compared to February, while just four experienced growth compared to March 2007.
Thirty-one counties reported gains in median selling price in March 2008 compared to February 2008, while 20 posted gains compared to March 2007.
“With a more than 10 percent increase in sales of existing single-family homes in March compared to February, the New York State housing market is performing better than the national housing market,” said Duncan R. MacKenzie, NYSAR chief executive officer. “While changes in the median selling price fared better on a national level, New York’s median price continues to remain above the national median.”
The New York State Association of REALTORS is a not-for-profit trade organization representing more than 61,000 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.