ALBANY — Home sales in New York were strong in this year's third quarter but slowed from last year's record-breaking pace, according to a new report.
The housing market report released Friday by the state Association of Realtors found 38,445 homes sold in New York in 2017's third quarter, which spans July through September.
That's the second-best number for the third quarter on record, just behind last year's 39,963 over the same period.
The number of homes listed for sale at the end of the quarter was 71,930, a drop of 7.7 percent compared to the same time in 2016.
“Home sales remained strong across the Empire State through the third quarter, constrained only by the ongoing decline in the number of homes available for sale," Duncan MacKenzie, the state Association of Realtors CEO, said in a statement. "We believe sales would have pushed higher had more homes been available to buyers."
Some counties in New York, including Tompkins, Seneca, Dutchess and Cayuga, actually had more closed homes during the third quarter this year than in 2016.
The total number of closed sales for the first nine months of 2017 was 98,176, a 1.7 percent increase over the 96,561 sold through September of 2016.
The cost of homes in New York has also gone up.
The median sales price during this year’s third quarter was $261,000. That’s a 5 percent increase over the median price during the third quarter of 2016.