Regional home sales fell last month
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Home sales in July in Buffalo Niagara declined 2.2 percent from a year ago, while the regions median and average sale prices each increased.
The Buffalo Niagara Association of Realtors reported 1,159 homes sold during the month, compared to 1,185 a year earlier.
The median sale price was $115,000, up 3.6 percent from a year ago. Median indicates half the homes sold for more than that amount and half sold for less.
The average sale price was $133,390, up 1.7 percent from July 2007. The average price is more susceptible to being influenced by sales of exceptionally low-or high-priced homes.
Through July, home sales in the region were down 6 percent from the same seven-month period in 2007. On a monthly basis, June is the only month in which home sales this year have exceeded last years.
James Knight, president of BNAR, said despite the year-over-year drop in homes sold, the region is not experiencing dramatic changes in its sales. I think the market is
