New York Regional Home Price Decreases Slightly Month Over Month in September

News provided by

Oct 18, 2023, 08:51 ET

FARMINGDALE N.Y., Oct. 18, 2023 /PRNewswire/ -- OneKey® MLS, reporting detailed, month-over-month statistical information about residential, condo, and co-op sales transactions in the regional MLS coverage area, reported closed median sale price between August and September 2023 held steady.

Table showing the change in residential closed median sale price between August and September 2023 for the 9 counties across the OneKey MLS Regional Coverage area, including Putnam, Queens, Nassau, Westchester, Orange, Rockland, Suffolk, Bronx, and Sullivan Counties

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 September 2023, OneKey MLS reported a regional closed median sale price of $630,000, a 0.80% decrease as compared to the $635,000 reported in August 2023. In a year-over-year comparison, the closed median sale price increased 5.00% from $600,000, reported in September 2022. Between August 2023 and September 2023, closed regional sales transactions, including residential, condo, and co-op sales, decreased to 4,245 from 5,344, representing a month-over-month decrease of 20.60%. Year over year, transactions were down 21.20% from September 2022. Across the region, pending sales transactions also decreased 11.20% in a month-over-month comparison, reportedly 4,240 in September 2023 as compared to 4,775 in August 2023.

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.

Four of nine counties reported an increased closed median sale price in a month-over-month comparison, while five counties reported a decreased median sale price. Putnam (+15.50%), Queens (+6.20 %), Suffolk (+1.20 %), and Nassau (+1.00%) Counties reported month-over-month increases in closed median sale price. Rockland (-1.40%), Orange (-2.3%), Sullivan (-3.7%), Bronx (-5.80%), and Westchester (-6.8%) Counties reported month-over-month decreases in closed median sale price.

The fact that prices are rising shows that there is still interest from homebuyers but there isn't enough supply to satisfy them, said Richard Haggerty, CEO of OneKey MLS. "Buyers are willing to buy even with interest rates where they are," he continued. "There's just nothing for them to buy."

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

About OneKey® MLS
OneKey® MLS is one of the nation's leading Multiple Listing Services, serving 48,000+ REALTOR® subscribers and 4,500 participating offices throughout Long Island, New York City, and the Hudson Valley. OneKey® MLS provides reliable property listing data, invaluable market insights, and an extensive suite of innovative industry tools and services.

Media Contact: Tricia Chirco, SVP Marketing and Communications, 631-670-0710 x405, [email protected]

SOURCE OneKey MLS