New York State home sales fall in third quarter – median price gains indicate broad-spectrum activity

The New York state housing market fell by more than 27 percent in the 2010 third quarter from the second quarter as sales slowed following the expiration of the federal homebuyer tax credit, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The 2010 third quarter statewide median sales price grew by 15 percent compared to both the 2010 second quarter and the third quarter of 2009.

New York REALTORS sold 17,996 existing single-family homes in New York State during the 2010 third quarter, a decrease of 27.4 percent from the 2010 second quarter. The sales total represents a 27.4-percent decrease compared to the 2009 third quarter. The September 2010 sales total of 6,012 was down 1.9 percent from the August total of 6,129 and 18.4-percent down from the September 2009 total of 7,365.

The 2010 third quarter statewide median sales price of $230,000 represents an increase of 15 percent from a last quarter and a 15.1-percent increase from the 2009 third quarter. The September 2010 median sales price of $229,102 represents a 4.1-percent decrease from August 2010, but was a 14.6-percent increase from September 2009.

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