Housing market: Sales down, prices up
TRI-COUNTY AREA—Through 11 months of 2010 area realtors are showing fewer sales with a higher median price compared to the same period in 2009.
With December numbers still to be reported, the New York State Association of Realtors only has data from January to November. Salvatore I. Prividera Jr., director of communication for NYSAR, explained there is a 30-day lag before all home sale information is fully reported. However, Jan. 1 to Nov. 30 showed that area home prices increased, even if the number of homes sold didn’t.
In Yates, the median price increased. In the first 11 months of 2010, the median price was $110,000. In 2009 it was $92,500, or an 18.9 percent change.
During that same time frame in 2010, 222 homes were sold in Yates. This is down from 2009: 246 homes or a 9.8 percent decrease.
For Schuyler County, the median price increased 11.1 percent. In 2010, the price was $129,230. During the previous year, the median price was $105,447.
The number of homes sold stayed the same. In both 2010 and 2009, 122 homes were sold in Schuyler.
Steuben County also had fewer homes sold with a higher median price. However, the changes were not as drastic. In the first 11 months of 2010, the median price was $89,900. During the same time in 2009, it increased seven percent from $84,000.
There were 617 Steuben County homes sold in 2010, compared to 623 in 2009. The difference there was only one percent.
“There was more activity on the higher end (of the market),” said Prividera. However, he attributed this to the first time home buyer tax credit, which expired April 30.
In comparison, the New York state total median price was $215,000, up from $195,000 in 2009. It was a 10.3 percent change. The average number of homes sold throughout the state in 2010 was 215, down from 257 in 2009. This is a 16.3 percent change.
Chemung County’s median price was $100,000 in 2010. This was up 16.3 percent from $86,000 in 2009. Chemung County also sold more homes: 579 in 2010 and 538 in 2009.