Newly released data from Realtor.com for October shows that potential buyers and sellers in Orange County saw lower home sale prices than the previous month’s median of $425,000.
The median home sold for $420,000, an analysis of data from Realtor.com shows. That means October, the most recent month for which figures are available, was down 1.2% from September.
Compared to October 2023, the median home sales price was up 2.8% compared to $408,500.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in the data. The statistics don’t include homes currently listed for sale and aren’t directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.recordonline.com.
Here is a breakdown on median sale prices:
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Looking only at single-family homes, the $440,000 median selling price in Orange County was down 2.2% in October from $450,000 the month prior. Since October 2023, the sales price of single-family homes was up 2.3% from a median of $430,000.Six single family homes sold for $1 million or more during the month, compared to seven recorded transactions of at least $1 million in October 2023.
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Condominiums and townhomes decreased by 5.3% in sales price during October to a median of $332,000 from $350,500 in September. Compared to October 2023, the sales price of condominiums and townhomes was up 9.1% from $304,200. Two condominiums or townhomes sold for $1 million or more during the month, compared to one recorded transaction of at least $1 million in October 2023.
About recorded home sales in Orange County in New York
In October, the number of recorded sales in Orange County rose by 3.2% since October 2023 — from 380 to 392. All residential home sales totaled $178 million.
Across New York, homes sold at a median of $475,000 during October, down 1.9% from $484,219 in September. There were 11,680 recorded sales across the state during October, down 2.3% from 11,952 recorded sales in October 2023.
Here’s a breakdown for the full state:
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The total value of recorded residential home sales in New York decreased by 2.7% from $8.7 billion in September to $8.5 billion this October.
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Out of all residential home sales in New York, 14.25% of homes sold for at least $1 million in October, up from 12.6% in October 2023.
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Sales prices of single-family homes across New York decreased by 0.8% from a median of $453,427 in September to $450,021 in October. Since October 2023, the sales price of single-family homes across the state was up 18.5% from $379,868.
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Across the state, the sales price of condominiums and townhomes dropped 3.4% from a median of $559,401 in September to $540,574 during October. The median sales price of condominiums and townhomes is up 5.6% from the median of $512,100 in October 2023.
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on Times Herald-Record: Homes in Orange County sold for lower prices recently: See how much here