New York’s housing sales reach 26-month high in August | Chappaqua NY Homes

-
The New York State housing market monthly sales reached a 26-month high in August with existing single-family home, condo and co-op transactions increasing by 8 percent from July and nearly 4 percent compared to last August, according the housing market report released today by the New York State Association of REALTORS. Additionally, the August statewide median sales price grew 4 percent and the number of pending sales increased by 13.3 percent compared to August 2011.
“Posting the highest monthly sales total in more than two years is a welcome milestone for the statewide housing market’s continuing recovery,” said Duncan R. MacKenzie, NYSAR CEO, who noted that August is a typically busy month in the seasonal market. “Other positive signs through the first eight months of 2012 can be found in the steady growth in closed and pending sales on a year-to-date basis as well as the stable median sales price. We look for these trends to continue into the early fall.”
MacKenzie noted that year-to-date (Jan. 1 to Aug. 31) closed sales are up 6.8 percent and pending sales are up 15.7 percent compared to the same period in 2011. The year-to-date median sales price of $214,900 is virtually unchanged from the 2011 median of $216,000, he added.
“We continue to see the market moving toward a balance between buyers and sellers as inventory declines due to a decrease in new listings and increasing sales,” said MacKenzie. “While there are still advantages for buyers in today’s market, such as good affordability conditions and low mortgage rates, the continued reduction in the number of homes for sale helped sellers receive nearly 95 percent of their asking price in August.”
The August market posted 9,834 closed sales, up 3.9 percent from the August 2011 total of 9,468. Year-to-date (Jan. 1 to Aug. 31) closed sales reached 60,755 at the end of August, an increase of 6.8 percent from last year.
The statewide median sales price reached $225,000, an increase of 4 percent compared to the August 2011 median of $216,250. The year-to-date (Jan. 1 to Aug. 31) median of $214,900 was 0.5-percent behind the $216,000 median in 2011.
The months supply of inventory continued to trend toward a more balanced market, dropping 30.1 percent in August to 11.4 months supply. It stood at 16.3 months in August 2011. A 6 month to 6.5 month supply is considered to be a balanced market. Inventory stood at 94,293 units in August 2012, a decrease of 21.8 percent compared to August 2011
via nysar.com

Comments

Post a Comment

Popular posts from this blog

Four Regional Banks Discuss Settlement Over Foreclosures | Waccabuc Real Estate

-
Image
U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other ...
Read more

Bedford Corners Real Estate by Robert Paul | 3 Perks of Google+ for Doctors: Spend a Little Time, Make Big Online Marketing Gains

-
Image
For doctors trying to reach their patients online, using Google+ can provide surprising marketing benefits that help them be more “findable” on the web. Consider that 44 percent of all Internet users search online to find information about health professionals, and suddenly the importance for doctors of having a good online presence should be more clear. In this article I’ll discuss three reasons why I think that, if you participate in Google+, the newest social network, you can improve the chances your name will come up when prospective patients search for something you’ve written about. If you’re not a doctor but you do know that many prospective clients use the web as a way to find you and your competitors, this article will also be relevant to you. 1. Rise in the Rankings First, participating in Google+ gives doctors an advantage because content you share on Google+ has an “edge” against other stories. That’s right–Google (the search engine) likes stories that’ve gotten sha...
Read more