Buffalo housing: Sales up, prices flat

August 6, 2013 Updated Aug 6, 2013 at 2:26 PM EDT

By Business First

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Buffalo housing: Sales up, prices flat

August 6, 2013 Updated Aug 6, 2013 at 2:26 PM EDT


The Buffalo Niagara housing market continued to heat up, rising 5.8 percent in June and pushing mid-year sales totals up 5 percent from 2012.

Single-family home sales totaled 981 for the month ahead of 927 year-over-year.

For the first half of the year, closed sales rose to 4,358, up from 4,150 for the first half of last year.

Figures are recorded by the Buffalo Niagara Association of Realtors.

Prices, however, were flat. The median sale price was $130,000 this year - same as June 2012. Average prices were $159,212, slightly ahead of $158,299 last year.

For the six-month period, median prices were $120,000, up 3.4 percent $116,000 last year. Average prices rose 3.3 percent to $143,597 from $138,985, BNAR reported.

While transactions climb, inventory keeps falling, declining 15.8 percent in June compared to a year ago. New listings were on par with a year ago at 1,695, off 0.4 percent from 1,702 last year.

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