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Market Pulse

May
26

April 2017 Housing Report

New York State Association of REALTORS® April Housing Report is out! And things are looking competitive. Over the last several year employment and wages have been improving. With this positive economic environment allows more people to join in the real estate market. While this is all good news, the problem is there’s not enough housing inventory to meet the demand. 

We all understand what happens when supply doesn’t meet demand. Not only are more people competing for the same thing, the “supply” price rises. The results are in the numbers:

  • New Listings were down 19.7 percent to 212
  • Pending Sales decreased 19.7 percent to 102
  • Inventory shrank 16.4 percent to 1,351 units
  • Prices moved higher as the Median Sales Price was up 20.2%
  • Days on Market decreased 13.3 percent to 221 days
  • Months Supply of Inventory was down 14.1 percent to 11.6 months

You can download the full report below.

[idxc-mmarket month=”April” url=”http://www.adirondackpropertyforsale.com/wp-content/uploads/2017/05/April_2017_Housing_Report.pdf”]

Real Estate Expertise

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