What is the story about?
What's Happening?
In Broome County, the median home listing price in August was $215,000, a 1.2% increase from July's $212,473. Compared to August 2024, the median price decreased by 4.4%. The median home size was 1,814 square feet, with a price of $122 per square foot, mostly unchanged from the previous year. Homes were listed for a median of 39 days, shorter than the national median of 60 days. The number of new listings decreased by 2.4% from the previous year. These statistics reflect only listed homes, not those sold, and exclude new constructions and pending sales.
Why It's Important?
The data provides insights into the housing market trends in Broome County, indicating a slight price increase and a decrease in new listings. This could impact potential buyers and sellers, influencing decisions on property investments. The decrease in new listings suggests a potential tightening of the market, affecting housing availability and affordability. Understanding these trends is crucial for stakeholders, including real estate professionals, investors, and policymakers, as they navigate the complexities of the housing market.
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