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Buffalo Home Sales Rebound in Past Month

Tuesday, December 15, 2009

 November home sales in the Buffalo area jumped 16 percent and pulled median prices up by 7 percent compared to the same month a year ago.

The number of completed transactions was 830 last month, up from 714 year-over-year, according to the Buffalo Niagara Association of Realtors.

The double-digit hike follows two months of declines and, through the first 11 months of 2009, puts the 9,296 sales total 2 percent behind last year’s pace of 9,506.

Median prices for the month were $112,500, ahead of $105,000 last November. Average prices were virtually uneven at $125,360 this year compared to $124,977 a year ago. Total dollar volume was up 2 percent for the month to $90.88 million from $89.23 million.

BNAR said the results for listings were mixed; new listings rose 9 percent to 994 from 911 while active listing declined 12 percent to 4,893 from 5,567