{"id":38052,"date":"2025-02-25T18:01:27","date_gmt":"2025-02-25T23:01:27","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=38052"},"modified":"2025-02-25T18:01:27","modified_gmt":"2025-02-25T23:01:27","slug":"new-york-housing-market-sees-sales-climb-despite-record-low-inventory","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/","title":{"rendered":"New York Housing Market Sees Sales Climb Despite Record Low Inventory"},"content":{"rendered":"<p>Home sales inched upwards in December despite housing inventory reaching its lowest point in recorded history, according to the housing report released today by the New York State Association of REALTORS\u00ae.<\/p>\n<p>Housing inventory fell 2.6 percent in December, from 23,808 units available in December 2023 to a record low 23,198 homes in December 2024. This marks the lowest number of homes for sale since statistics started being kept by NYSAR in 1997.<\/p>\n<p>Sales across the Empire State did increase in December. Closed sales rose 3.7 percent \u2013 from 8,814 homes in December 2023 to 9,138 units last month. Pending sales rose from 6,207 homes in December 2023 to 6,423 homes in 2024. This represents a 3.5 percent increase in year-over-year comparisons. New listings were also up 3.9 percent in December \u2013 from 5,742 listings in 2023 to 5,968 listings in 2024.<\/p>\n<p><span class=\"Apple-converted-space\"><strong><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span><\/strong><\/span>Interest rates dropped slightly in December, according to Freddie Mac. The average rate on a 30-year fixedratemortgage ended the month at 6.72 percent, which is lower than the November average rate of 6.81 percent. For comparison, a year ago, the interest rate stood close to November\u2019s average rate of 6.82 percent.<\/p>\n<p>Median sales prices continue to escalate, rising 10.5 percent in December, from $380,000 in December 2023 to $420,000 in December 2024.<\/p>\n<p>Additional data is available at http:\/\/www.nysar.com\/industry-resources\/market-data.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home sales inched upwards in December despite housing inventory reaching its lowest point in recorded history, according to the housing report released today by the New York State Association of REALTORS\u00ae. Housing inventory fell 2.6 percent in December, from 23,808 units available in December 2023 to a record low 23,198 homes in December 2024. This [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-38052","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>New York Housing Market Sees Sales Climb Despite Record Low Inventory - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"New York Housing Market Sees Sales Climb Despite Record Low Inventory - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Home sales inched upwards in December despite housing inventory reaching its lowest point in recorded history, according to the housing report released today by the New York State Association of REALTORS\u00ae. Housing inventory fell 2.6 percent in December, from 23,808 units available in December 2023 to a record low 23,198 homes in December 2024. This [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Glens Falls Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2025-02-25T23:01:27+00:00\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/\",\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/\",\"name\":\"New York Housing Market Sees Sales Climb Despite Record Low Inventory - Glens Falls Business Journal\",\"isPartOf\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#website\"},\"datePublished\":\"2025-02-25T23:01:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New York Housing Market Sees Sales Climb Despite Record Low Inventory\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#website\",\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/\",\"name\":\"Glens Falls Business Journal\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\",\"name\":\"Jake Van Ness\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g\",\"caption\":\"Jake Van Ness\"},\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/author\/jakev\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New York Housing Market Sees Sales Climb Despite Record Low Inventory - Glens Falls Business Journal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2025\/02\/new-york-housing-market-sees-sales-climb-despite-record-low-inventory\/","og_locale":"en_US","og_type":"article","og_title":"New York Housing Market Sees Sales Climb Despite Record Low Inventory - Glens Falls Business Journal","og_description":"Home sales inched upwards in December despite housing inventory reaching its lowest point in recorded history, according to the housing report released today by the New York State Association of REALTORS\u00ae. 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