Home > About BNE > Press Room > 2009 Archive > August > Buffalo home sales, prices at new high

Buffalo home sales, prices at new high

Buffalo’s housing market took a turn for the better in July as sales and median prices increased by 3 percent compared to a year ago.

The number of single-family home transactions last month reached 1,192 — a peak performance, the Buffalo Niagara Association of Realtors reported Friday. That topped the previous sales record of 1,159 in July 2008. Overall sales through the first seven months of the year are lagging 6 percent from last year, however, with 5,485 deals compared to 5,836 through the same period of a year ago.

Median prices also reached a high point, rising to $118,600, up from the old mark of $115,000 last July.

Average prices held steady in the year-over-year period at $133,087 compared to $133,390. Total dollar volume was up 3 percent to $158.6 million from $157.7 million, BNAR reported.

Both active listings and new listings declined 6 percent and 4 percent, respectively. Active listings stood at 5,700, down from 6,067 in July 2008. New listings were at 1,659, down from 1,724.