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Home > About BNE > Press Room > 2010 Archive > August > June Home Sales go Through the Roof

June Home Sales go Through the Roof

Tuesday, August 3, 2010,

Home sales heated up like never before in the month of June with the number of transactions climbing to 1,379, easily the highest recorded in this decade by the Buffalo Niagara Association of Realtors.

The trade group reported 1,379 closed deals for that period – a 24 percent leap from 1,111 sold June 2009. The previous high sales total for any month since 2000 was 1,188 in August 2007.

For the first half of the year, home sales in the Buffalo area are running 5 percent ahead of 2009 at 4,364 compared to 4,164.

Real estate observers have cited the continuation of a federal tax credit for home buyers as one reason for the spike in home sales in recent months.

Prices also rose to new highs in June with the median tag up 4 percent to $119,000 and the average single-family home price having increased 3 percent to $139,231 from $134,927 year-over-year.

Total dollar volume in the market spiraled 22 percent to $192 million from $157.7 million.

Active listings continued to expand, rising 11 percent to 6,281 from 5,934 while new listings declined 14 percent to 1,650 from 1,912.