Home / Top News / January home sales spur optimism for 2020 New York State housing market

January home sales spur optimism for 2020 New York State housing market

January 2020 NYS Housing Statistics

January 2020 NYS Housing Statistics

January 2020 NYS Housing Statistics

ALBANY, N.Y., Feb. 21, 2020 (GLOBE NEWSWIRE) — Closed sales and pending sales were up in January in year-over-year comparisons, fueling optimism for a robust 2020 housing market, according to the housing market report released today by the New York State Association of REALTORS®.

Closed sales improved 4.1-percent to 9,204 units from 8,842 houses at the start of 2019. Pending sales were also up in year-over-year comparisons, escalating to 8,895 houses – a 5.6-percent increase over January 2019’s total of 8,421 homes.

The median sales price continued to appreciate as the calendar turned to 2020. The statewide median sales price was $300,000 – an increase of 9.1-percent from the January 2019 median of $275,000.

New listings were down to 14,370 homes – a 2.9-percent decrease from 14,806 homes in January of 2019.

The monthly average commitment rate for a 30-year fixed mortgage continues to be affordable, dropping to 3.62-percent in January according to Freddie Mac. Days on the market remained unchanged from January 2019 at 77 days.

Additional data is available at http://www.nysar.com/industry-resources/market-data

Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums and existing single-family homes.

The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 59,000 of New York State’s real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®.

Contact:
Scott Morlock
Director of Communications
518-463-0300 x 208
[email protected]

An Infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/69f29b70-facc-4edf-b996-e91891784cb9

GlobeNewswire