Homes in New York’s Southern Adirondack region sold quickly in May, spending just over a month on the market, with sellers receiving more than asking price on average, according to the National Association of Realtors.
Nationally, existing home sales were down 2.4 percent from last month. Home prices may begin to decline if this trend continues
“Our market’s drop in closed sales has given the housing supply a much-needed boost compared to previous months,” said Densay Sengsoulavong, CEO of the Southern Adirondack Realtors. “While the number of homes sold may be down, our market remains highly competitive with rising home prices and quick sales. Serious buyers would benefit from working with a professional Realtor to navigate our market.”