Realtors are continuing to post “robust” for August with “gains being posted in closed sales, median prices and pending sales,” the New York State Association of Realtors says Thursday.
The realty group said that closed sales for August rose 8.6 percent as compared with August 2012 and that median price jumped 10 percent and pending sales went up nearly 16 percent.
“Homebuyers have clearly decided that the summer of 2013 was a great time to purchase a home in New York,” said Duncan R. MacKenzie, the chief operating officer for NSAR. “With one eye on mortgage rates and the other on available inventory, motivated buyers signed contracts at a brisk pace, pushing the pending sales count to the highest August total since 2006.”
“Tight inventory levels continued to spur statewide price gains as sellers exercised their growing leverage in negotiations,” said MacKenzie. “As a result, the August statewide median of $242,000 became the highest median price for any month since February 2008.” He added that the statewide market has posted its 15th consecutive month of steady or rising statewide median sales prices, while inventory reached its lowest level in August since 2005.
“While the summer months tend to be the busiest in our seasonal market, New York’s Realtors project that the current housing market trends will continue into the fall,” said MacKenzie.
Numbers for the Westchester-Putnam-Rockland counties were not immediately available.
The Hudson Gateway Association of Realtors releases its numbers and tabulations at the end of the quarter.
The home shown above is 138 Lyons Road in Scarsdale which in August had a pending sale of $735,000. It is in the sought-after Edgewood section.