By Amy L. Ashbridge
ONEONTA _ This area has been immune to many housing sales trends over the year, and it's showing the same immunity to the most recent figures and trends.
Last month was no exception: While home sales were declining nationally to the lowest levels in 15 years, area counties saw increases.
Oneonta doesn't have the large businesses and outside factors that can really affect prices, two local Realtors said Tuesday, and that's helped keep the area calm in turbulent times, such as recent national reports of decreased home prices.
"(Area prices) didn't go straight up in the air," said Carol Chesser, broker-owner of Century 21 Chesser Realty in Oneonta. "We're not feeling them go straight down."
Home prices dropped by 3.9 percent in July from the previous year, according to the S&P/Case-Shiller home price index. Sales also fell in August compared with July, according to the National Association of Realtors. The group said sales of existing single-family homes dropped by 4.3 percent in August from July, and when seasonally adjusted, sales occurred at the slowest pace since August 2002.
In contrast with the S&P/Case Schiller report, the Realtors said the median price of an existing home "" the point where half sold for more and half for less "" edged up slightly in August to $224,500, an increase of 0.2 percent from August 2006.
According to the New York Association of Realtors' monthly housing survey, median sales-prices changes were mixed in this area. Chenango and Otsego counties had increases in sales prices from August 2006 through this August. Otsego County had a nearly 18 percent decrease from July. Delaware County had a 15 percent decrease from August 2006 to August 2007, and a 20 percent decrease from July to August.
The median sales price of a home in Otsego County this August was $125,000; it was $153,000 in July and $116,500 in August 2006, according to the Realtors' association.
"They haven't really decreased," Chesser said Tuesday. "Prices are not skyrocketing anymore. They're just leveling off."
This area didn't see a decrease in sales, according to figures released this week from the New York Association of Realtors.
Otsego County had a nearly 29 percent increase in the number of homes sold between July and August, and a nearly 5 percent increase from August 2006 to this August. Delaware County had a 14.3 increase in home sales from 2006 to 2007.
The New York survey only includes homes sold through multiple-listing services, which might not include all homes sold in this area.
"August is typically a strong month, and with more than 10,000 sales closed, our statewide market, while slowing from record highs, is bucking the national trend," Charles M. Staro, chief executive officer of the state association, said in a prepared statement. "We continue to project solid sales totals through the end of 2007."
Chesser said while it may be harder for some people to get mortgages for their homes, she said, there haven't been significant sales decreases.
"I'm just steady," Chesser said. "I'm not crying."
Some perceived problems may result from the discrepancies between what buyers and sellers think, said Barbara Roberts, broker-owner of Prudential Fox Properties. Many buyers think it's a buyers' market because prices have dropped, she said, but many sellers think they can still get the inflated prices from several years ago. Roberts said the market has been in "adjustment mode" for the past few years.
"All in all, the market is good," Roberts said. "The market is strong."
Chesser and Roberts said they weren't advising people to hold off on selling if they need to move from a primary residence. Sellers and Realtors can't predict what's going to happen in the future, Roberts said.
"We don't know what it's going to be in 12 months, 24 months or 36 months," Chesser said. "No one has a crystal ball."
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The Associated Press contributed to this story.
