The Empire State enjoyed a healthy housing market in May, with the level of closed sales setting a new record for the month, according to data from the New York State Association of Realtors (NYSAR
The 10,704 closed sales last month surpassed the 10,235 record set in May 2016 by 4.6 percent. The statewide median sales price last month was $239,000, up 7.1 percent from the May 2016 median of $223,200. And the level of pending sales increased by 8.2 percent from a year ago to reach 14,710.
“Spring buyer activity remained strong as New Yorkers closed on a record number of homes in May,” said Duncan R. MacKenzie, CEO of the NYSAR. “This is a welcome reversal after the slight dip in April sales as some buyers struggled to find their next home.”