2012 Central New York home sales are up 11 percent over last year | syracuse.com

"From the Syracuse Newspapers:

"The pace of home sales in Central New York is a lot like the weather this year: Hot since the spring, with no signs of cooling off.

Nearly 11 percent more homes were sold in Central New York so far this year than in the same period of 2011, according to data gathered by theCentral New York Information Service, which operates the multiple listing service database of homes for sale.

The average home sale price is also increasing: It was $142,633 in the six-county Central New York area for 2012 so far, according to the Greater Syracuse Association of Realtors. That’s up $3,283 — just over 2 percent — from last year’s average price for the same time period.

Three factors are causing the increase in sales, said Mark Re, president of the Central New York Information Service. “Right now we have the lowest interest rate in over two decades, we have very affordable housing and we have a huge inventory,” he said."

2012 Central New York home sales are up 11 percent over last year | syracuse.com