Queensbury, NY- U.S. existing-home sales fell 2.0% from the previous month and 1.2% from a year earlier to a seasonally adjusted annual rate of 3.98 million, the first reading below 4 million since June 2025, according to the National Association of REALTORS® (NAR). Sales held steady in the West and declined in the Northeast, Midwest, and South. Compared with a year earlier, sales were unchanged in the South and declined in the Northeast, Midwest, and West.
New Listings decreased 0.6 percent to 468. Pending Sales increased 2.0 percent to 362. Inventory increased 4.6 percent to 1,147.
Median Sales Price increased 8.9 percent from $395,000 to $430,000. Days on Market increased 10.3 percent to 32. Months Supply of Inventory increased 9.4 percent to 3.5.
Heading into September, there were 1.62 million homes listed for sale, up 3.2% from the previous month and 5.9% from a year earlier, the first time inventory has exceeded 1.6 million units since November 2019, NAR reported. That represents a 4.9-month supply at the current sales pace, up from 4.6 months a month earlier and the highest level in over ten years, according to NAR Chief Economist Lawrence Yun. The median existing home sales price rose 1.6% year-over-year to $429,100, marking 38 consecutive months of annual gains, and year-to-date sales are up 1.6%. The Federal Reserve raised its benchmark rate by a quarter point on September 16 to a range of 3.75% to 4%, its first increase since July 2023, and the 30-year fixed-rate mortgage moved above 7% in late September, up from an August average of 6.67%, according to Freddie Mac.
Residential activity in the counties of Essex, Hamilton, Saratoga, Warren, and Washington is composed of single-family properties, townhomes, and condominiums combined. Percent changes are calculated using rounded figures.
