New York State home sales in the 2011 first quarter lagged behind last year's federal tax credit-driven market, falling off by nearly 5 percent, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price increased by more than 5 percent from the first quarter of 2010.

New York REALTORS sold 13,623 existing single-family homes during the first quarter of 2011, a decrease of 4.9 percent from the 2010 first quarter, but an increase of 13.4 percent from the 2009 first quarter. The March 2011 sales total of 4,989 represents a 22-percent increase from February 2011 and a 9.7-decrease from March 2010.

The 2011 first quarter median sales price of $226,600 represents an increase of 5.4 percent from the 2010 first quarter and a 4.4-percent hike from the 2010 fourth quarter. The March statewide median sales price of $215,000 represented a decrease of 10.4 percent from the February median of $240,000, but was 7.5 percent above the March 2010 median of $200,000

Click here to learn more.