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Number of CNY home sales dips, but prices stay high

Euclid House Rental
Katie Zilcosky
/
WAER News
Houses available for rent on Euclid Ave. in Syracuse.

Home sales in Central New York continue to fall, but prices are going up. In fact, the Greater Syracuse Association of Realtors says the monthly median sales price has hit its highest mark since August of last year at just over $181,000. The number of closed sales in May fell by 10% compared to the same time last year.

Meanwhile, the number of homes listed for sale jumped 22% from last May. Association CEO Lynnore Fetyko says rising mortgage rates and selling price growth are combining to strain buyers’ budgets. She says as a result, they’re being more selective in their offers.