Home sales were down last month in the Empire State while the median sales price continued to spike, according to data from the New York State Association of Realtors.
During October, the state recorded 12,408 closed sales, down 4.1 percent from one year earlier. New York’s inventory of homes for sale fell for the fourth consecutive month, dropping by 4.2 percent to 69,081 units. New listings were down year-over-year by 2.3 percent to 16,457 houses.
However, pending sales were up 2.6 percent, totaling 11,844 units in October, and were also up by 2.6 percent
in year-over-year comparisons to 108,699 homes. Also rising was the median sales price: Last month’s $280,000 price was an 8.1-percent increase compared to October 2018.