Orange County home prices fall on average from July to August – Times Herald-Record

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Newly released data for August shows that potential buyers and sellers in Orange County saw houses sell for lower than the previous month’s median sale price of $410,000. 

The median home sold for $360,000, an analysis of data from Realtor.com shows. That means August, the most recent month for which figures are available, was down 12.2% from July.


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Compared to August 2022, the median home sale price was down 5.3% at $360,000 compared to $380,000.

Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date 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.

Looking only at single-family homes, the $405,000 median selling price in Orange County was down 6.9% in August from $435,000 the month prior. Since August 2022, the sale price of single-family homes was down 0.5% from a median of $407,000.

One condominium or townhouse sold for $1 million or more during the month, compared to four recorded transactions of at least $1 million in August 2022.

Condominiums and townhomes decreased by 12.7% in sales price this August to a median of $272,500 from $312,000 in July. Compared to August 2022, the sale price of condominiums and townhomes was down 12.1% from $310,000. One home sold for $1 million or more during the month, compared to two recorded transactions of at least $1 million in August 2022.

In August, the number of recorded sales in Orange County dropped by 82.2% since August 2022 from 590 to 105. All residential home sales totaled to $42.1 million.

In New York, homes sold at a median of $558,250 this August, up 32.8% from $420,524 in July. There were 4,203 recorded sales across the state this August, down 73.7% from 15,957 recorded sales in August 2022. 

The total value of recorded residential home sales in New York decreased by 34.3% from $7 billion in July to $4.6 billion this August. 

Out of all residential home sales in New York, 21.41% of homes sold for at least $1 million in August, up from 15.77% in August 2022.

Sale prices of single-family homes across New York increased by 38.9% from a median of $370,213 in July to $514,081 in August. Since August 2022, the sale price of single-family homes across the state was up 39.6% from $368,379. 

Across the state, the sale price of condominiums and townhomes rose 4.4% from a median of $598,583 in July to $625,000 this August. The median sale price of condominiums and townhomes is up 0.4% from the median of $622,499 in August 2022. 

The median home sale 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 sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.

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