Homes in New York\u2019s 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.<\/p>\n
Nationally, existing home sales were down 2.4 percent from last month. Home prices may begin to decline if this trend continues<\/p>\n
\u201cOur market\u2019s drop in closed sales has given the housing supply a much-needed boost compared to previous months,\u201d said Densay Sengsoulavong, CEO of the Southern Adirondack Realtors<\/b>. \u201cWhile 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.\u201d<\/p>\n
<\/span><\/span>New listings in the region dropped 5.8 percent in May compared to last year, from 703 to 662. Inventory dropped 41.4 percent, from 1,324 to 776, and pending sales decreased 15.1 percent, from 564 to 479. Closed sales declined 20.6 percent, from 437 to 347. Sellers received 103.2 percent of their list price in May.<\/p>\n The median sales price rose from $288,200 last year to $347,000, a 20.4 percent increase. The average number of days homes spent on the market decreased 25.6 percent, from 43 to 32, and the months supply of inventory dropped 24 percent, from 2.5 to 1.9.<\/p>\n Southern Adirondack Realtors, Inc. represents over 525 Realtor members and more than 60 Affiliate members in New York\u2019s Southern Adirondack region. For more information, visit southernadkrealtors.org.<\/p>\n","protected":false},"excerpt":{"rendered":" Homes in New York\u2019s 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 […]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\r\n