OneKey MLS: NY Regional Closed Median Sale Price Increased by 3.40% in June
FARMINGDALE—OneKey MLS reported a regional closed median sale price of $612,000 in June, a 3.40% increase as compared to the $592,000 reported in May 2023. In a year-over-year comparison, the closed median sale price held steady, decreasing less than 1.00% from the $615,000 reported in June 2022.
The OneKey MLS report released on July 18th covered residential real estate transactions in nine counties from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains.
Between May 2023 and June 2023, closed regional sales transactions, including residential, condo, and co-op sales, increased to 4,747 from 4,063, representing a month-over-month increase of 16.80%. Across the region, pending sales transactions decreased slightly by 1.30% in a month-over-month comparison, reportedly 5,355 in June 2023 as compared to the 5,424 in May 2023.
Six of nine counties reported an increased closed median sale price in a month-over-month comparison, while three counties reported a decreased median sale price. Westchester (+14.10%), Orange (+9.50%), Sullivan (+6.30 %), Nassau (+4.50%), Suffolk (+3.60%), and Rockland (+0.40%) counties reported month-over-month increases in closed median sale price. Queens (-1.50%), Putnam (-3.90%) and Bronx (-7.20%) counties reported month-over-month decreases in their respective June closed median sale price as compared to May 2023.
Pointing to the slowing rate of inflation, Richard Haggerty, CEO of OneKey MLS said, “This may be an early sign that we will begin to see mortgage rates decrease in the next several months. Lower interest rates could be a catalyst that boosts market activity, prompting more sellers to list their homes, especially as price increases have softened.”
OneKey MLS, the largest MLS in New York, aggregates the real estate transactional data from nine counties making up the regional MLS coverage area, and reports individually on each county represented. The infographic demonstrates month-over-month closed median home price comparisons for the region.
Made possible by the merger of MLSLI and Hudson Gateway MLS, OneKey MLS, is one of the nation’s leading Multiple Listing Services, serving more than 48,000 Realtor subscribers and 4,500 participating offices throughout Long Island, Manhattan, and the Hudson Valley.
For further detailed statistical information about residential, condo, and co-op sales transactions, please visit https://www.onekeymls.com/market-statistics.
