Between June and July, New York Residential Closed Median Sale Price Increases by 3.40%

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Aug 18, 2023, 08:44 ET

OneKey® MLS, reporting detailed, month-over-month statistical information about residential, condo, and co-op sales transactions in the regional MLS coverage area, reported a 3.40% increase in closed median sale price between June 2023 and July 2023.

FARMINGDALE, N.Y., Aug. 18, 2023 /PRNewswire/ -- OneKey® MLS is the one source real estate marketplace for monthly statistics for residential real estate transactions from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains. For July 2023, OneKey MLS reported a regional closed median sale price of $633,000, a 3.40% increase as compared to the $612,000 reported in June 2023. In a year-over-year comparison, the closed median sale price rose slightly as well, increasing 2.10% from the $620,000 reported in July 2022. Between June 2023 and July 2023, closed regional sales transactions, including residential, condo, and co-op sales, decreased to 4,288 from 4,899, representing a month-over-month decrease of 26.00%. Across the region, pending sales transactions decreased in a month-over-month comparison, reportedly 4,642 in July 2023 as compared to the reported 5,313 in June 2023.

Table showing the change in residential closed median sale price between June and July 2023 for the 9 counties across the OneKey MLS Regional Coverage area

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.

Seven of nine counties reported an increased closed median sale price in a month-over-month comparison, while two counties reported a decreased median sale price. Putnam (+7.70%), Queens (+6.30 %), Nassau (+4.30 %), Westchester (+4.30%), Orange (+2.10%), Rockland (+2.10%), and Suffolk (+1.80%) Counties reported month-over-month increases in closed median sale price. The Bronx (-4.60%) and Sullivan (-12.30%) Counties reported month-over-month decreases in closed median sale price.

According to Richard Haggerty, CEO of OneKey MLS, the current state of the regional market is due to a combination of high interest rates and limited available inventory. CEO Haggerty said, "Homeowners are simply not motivated to put their homes on the market right now."

For further detailed statistical information about residential, condo, and co-op sales transactions, please visit https://www.onekeymls.com/market-statistics

OneKey MLS, made possible by the merger of MLSLI and Hudson Gateway MLS, is one of the nation's leading Multiple Listing Services, serving over 48,000 REALTOR® subscribers and 4,500 participating offices throughout Long Island, Manhattan, and the Hudson Valley. OneKey MLS is dedicated to providing more comprehensive coverage, up-to-date statistics, and the best real estate tools and resources.

Media Contact:
Tricia Chirco, SVP Marketing and Communications
631-670-0710 x405
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SOURCE OneKey MLS