Albany, NY – November 24, 2015 – (RealEstateRama) — The 2015 New York State housing market growth trend continued into October, reaching the highest level of closed sales for the month in more than 25 years, according to the housing market report released today by the New York State Association of REALTORS. October 2015 closed sales increased nearly 2 percent to reach 11,216.
The months supply of homes for sale dropped 15.5 percent at the end of October to 8.7 months supply. It was at 10.3 months at the end of October 2014. A 6 month to 6.5 month supply is considered to be a balanced market. There were 88,977 homes listed for sale at the end of October, a decrease of 5.6 percent compared to October 2014.
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