Tri-County Real Estate Sales Rebound

Lance Evans

After being slightly down in 2018, overall property sales (including residential, land, multi-family and commercial properties) in Jefferson, Lewis, and St. Lawrence counties were generally higher in 2019. The median price followed this pattern also and days on the market continued to drop. When narrowing the focus to residential units (single-family, townhouse, and condominium), the trends were similar. 

    Residential sales account for about 80 percent of property sales in the tri-county region. Most of these are single-family homes. However, our area records about a dozen townhouses or condominium sales each year which are included in the residential numbers. 

Jefferson County 

    Sales of all property in Jefferson County increased about three percent over 2018 and one percent over 2017 with 1,384 properties changing hands. The median price rose to $139,900 from $125,000 in 2018 and $120,000 in 2017 while days on the market rose slightly from 2018 to 116 days. This was down over three weeks from 2017. 

    Sales of residential properties also increased in 2019, but at a slower rate. Overall, 1,149 residential properties (up from 1,141 in 2018 and 1,135 in 2017) were sold. The median price jumped from $135,000 in 2017 and 2018 to $152,400 in 2019. Meanwhile, days on the market fell four days from 2018 to 95 days and over four weeks from 2017’s 124 day figure.  

St. Lawrence County 

    Results were similar in St. Lawrence County with sales of all properties down slightly from 2018 and up from 2017. Residential property sales rose four percent compared to both 2017 and 2018. 

    In 2019, 883 properties of all kinds changed hands. This was down 11 from 2018, but up six from 2017. The median price rose $3,000 from 2018 to $88,000 and up $9,000 compared to 2017. Days on the market fell 10 days to 181 in 2019 and over three weeks from 2017. 

    Residential sales rose four percent over 2017 and 2018 with 781 homes sold. The median price of $95,000 was about $5,000 higher than 2018 and was up over $10,000 from 2017. Days on the market fell four weeks from 2017 to 2019 and one week from 2018 with residential properties spending 170 days on the market. 

Lewis County 

    Similar to Jefferson and St. Lawrence counties, Lewis County had a good year in terms of real estate sales. Unlike the other two counties, unit sales were down from 2017, but up from 2018. 

    The number of properties of all types rebounded from 2018 to 294 units. This was up six units from 2018 but down 12 properties from 2017. Similarly, median price was up over $7,000 from 2018 to $99,000. The 2017 median price was about $2,500 higher than 2019. Like the other two counties, marketing time decreased to 153 days, down from 162 days in the previous two years. 

    Residential sales followed the same pattern with 222 units sold in 2019, up 15 from 2018 but down 16 from 2017. In the reverse of other counties, median price was down from 2018 ($114,450 compared to $119,000) and up from 2017’s $94,000. Residential units spent 122 days on the market in 2019, up one day from 2018, but down a week from 2017. 

New York State 

    Only residential sales figures were available for sales in the state, which fell by a little over one percent from 2018. However the median price for a home increased by five and a half percent. Information on days on the market was not available. 

Notes on the above 

    All of the local figures come from the multiple listing systems of the Jefferson-Lewis Board of Realtors and St. Lawrence County Board of Realtors. The New York State Association of Realtors provided the state numbers. Average days on the market is the amount of time between listing the property and the purchase offer being signed. Median price is the middle number of all the prices and is considered more statistically accurate than the average price.