By Ashley Hupfl, Albany Bureau
ALBANY A total of 11,121 housing sales closed in New York in July, a 16.4 percent jump from the same month the previous year, according to a report Tuesday from a statewide realtors association.
From January through July, 56,522 sales have been reported across the state, a 9.2 percent increase from the same period in 2012, the New York State Association of REALTORS found.
"The combination of strong buyer demand and constrained inventory levels continue to drive median price gains as sellers received nearly 96 percent of their asking price in July," Duncan MacKenzie, the group's CEO, said in a statement.
The report noted the highest number of July closed sales since 2007 and the highest number of July pending sales since 2005. July housing sales reached a median price of of $241,947, a 6.2 percent increase from July 2012, according to the report.
Some counties saw big increases, while others saw significant decreases.
Dutchess and Monroe counties saw an increase of 28.2 percent and 12.7 percent, respectively, from July 2012 to July 2013. There were 241 sales in Dutchess, while Monroe saw 825.
Some counties in the Southern Tier saw a drop, including Broome County, which saw 124 closed sales, a 13.9 percent decrease from last July. Chemung County also saw a slight decrease, from 65 sales in July 2012 to 62 sales this July.
Dutchess County Executive Marcus Molinaro, a Republican, cautioned against celebrating the jump.
"It was a great ... year, but one year does make a trend," Molinaro said. "Hopefully our next quarters will continue to see improvement."
Westchester, Putnam and Rockland counties were included in the statewide total, but their individual rates are only released quarterly. The Hudson Gateway Association of Realtors, reported a second quarter sales increase for all three counties, with Westchester seeing the greatest increase at 23.9 percent.