Home Sale Prices Soar Again Amid Falling Inventory

(Sharon Cantillon / Buffalo News)

Home prices set another record high in the Buffalo Niagara region during January, as a dearth of available homes continues to drive up home values even as fewer homes change hands.

As a result, buyers continue to compete heavily for the best houses, and pay up when they find them. The average sales price soared 16 percent to $165,021 in January, while the median price – half sold for more, half for less – rose 12 percent to $142,000, according to new data from the Buffalo Niagara Association of Realtors.

Those aren’t the highest prices year-round, but they are easily the most for January in both categories, besting the next-highest levels by at least $15,000 each.
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