The Cayuga County housing market slowed in the first quarter of 2008, but the declines were smaller than those reported for the entire state, according the latest data from an industry leader.
The New York State Association of Realtors this week reported a 13.7 drop in single-family homes sold in Cayuga County during the first three months of the year. Total sales reached 88 during that time period, down from 102 a year ago.
That drop was not nearly as severe as the statewide sales volume, which dipped 23 percent.
A similar picture played out with respect to median sales price, the point at which half of all sales fall either above or below.
In Cayuga County, the first-quarter median sales price decreased 5.2 percent to $92,000, down from $97,000 in 2007.
Statewide, the median sales price of $225,000 represented a 15.7 percent decline.
Unlike an average price, the median price negates the impact of a small number of extremely high- or low-priced sales.
Total sales value for Cayuga County in the first quarter was $14 million, down just 0.4 percent.
That drop was not nearly as severe as the statewide sales volume, which dipped 23 percent.
A similar picture played out with respect to median sales price, the point at which half of all sales fall either above or below.
In Cayuga County, the first-quarter median sales price decreased 5.2 percent to $92,000, down from $97,000 in 2007.
Statewide, the median sales price of $225,000 represented a 15.7 percent decline.
Unlike an average price, the median price negates the impact of a small number of extremely high- or low-priced sales.
Total sales value for Cayuga County in the first quarter was $14 million, down just 0.4 percent.
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forrest wrote on May 31, 2008 1:27 PM:
CryinRyan wrote on May 31, 2008 2:00 AM: