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Buffalo Home Prices, Sales up in January

Monday, February 22, 2010

The Buffalo area housing market is off to a better start in 2010 than a year ago as median prices and pending sales were up by double digits in January.

The review of the first month of the year from the Buffalo Niagara Association of Realtors shows median prices rose to $100,000 — easily the highest on record for that month — from $96,790 a year ago, a jump of 13.6 percent.

The average price of a home in January was $126,584, up 7.3 percent from $117,953 last year.

Pending sales (BNAR is no longer publishing closed transactions) climbed 12.3 percent to 565 from 503 in the year-over-year period.

Listings — both new and active, were down. There were 1,098 new listings last month compared to 1,190 in January 2009, a drop of 7.7 percent. Active listings totaled 4,934, down 2.1 percent from 5,041 last year.