Albany – November 30, 2005 – Sales of existing single-family homes in New York decreased in the month of October after two consecutive record monthly totals, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The preliminary data showed a median selling price increase of more than 23 percent in October 2005 compared to the same period a year earlier.

The October 2005 sales total decreased 3.2 percent to 8,792 compared to the October 2004 sales total of 9,083. The October 2005 sales total fell 14.3 percent from the sales total of 10,254 in September 2005, which represents a record for that month.

The statewide median selling price rose 23.3 percent in October 2005 to $269,000 compared to the $218,086 median recorded the same period a year earlier. The October 2005 median price increased 3.5 percent from the previous month, which recorded a median sales price of $260,000.

Sales gains were reported in 29 counties in October 2005 compared to the same period a year earlier, while 13 counties reported growth from the previous month. Cortland County led the state in sales growth percentage, recording a 108-percent increase compared to the same period a year earlier and an increase of 126.1 percent from September 2005.

Forty-two counties reported gains in median selling price in October 2005 compared to October 2004, and 20 counties reported gains from September 2005. Yates County led the state in median sales price growth compared to October 2004, recording an increase of 48.4 percent. Lewis County recorded an increase of 64.8 percent from September 2005.

“After four consecutive months with sales totals well above the 10,000 mark, New York ’s housing market returned to a typical and sustainable level during the month of October,” said Charles M. Staro, NYSAR chief executive officer. “Although fall sales are usually slower due to the seasonal nature of our market, we continue to anticipate the 2005 market will finish strong.”