New York Residential Closed Median Sale Price Holds Steady while Pending Transactions Increase Significantly in March

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Apr 18, 2023, 08:46 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 no change in closed median sale price between February 2023 and March 2023.

FARMINGDALE, N.Y., April 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 March 2023, OneKey MLS reported a regional closed median sale price of $550,000, representing no change as compared to the figure reported in February 2023. Between February 2023 and March 2023, closed regional sales transactions, including residential, condo, and co-op sales, increased to 3,525 from 3,046, representing an increase of 15.70. Across the region, pending sales transactions rose in a month-over-month comparison as well, reaching 5,268 in March, 35.70% more pending transactions than the 3,883 reported in February.

Table comparing the NY Regional Residential Closed Median Sale Price and Change between February 2023 and March 2023, as reported by OneKey MLS, the largest MLS in NY

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.

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 (+7.90%), Putnam (+6.00%), Rockland (+3.70%), Queens (+2.50%), Bronx (+1.90%), and Nassau (+0.80%) Counties reported month-over-month increases in closed median sale price. Suffolk (-3.20%), Orange (-4.80%), and Sullivan (-16.70%) Counties reported month-over-month decreases in closed median sale price.

Richard Haggerty, CEO OneKey MLS stated, "Historically, the number of home sales increases significantly in the springtime, so I am not surprised to see pending sales activity ticking upwards across our region, amid economic uncertainty." Indicating that seasonality has always been a reliable predictor of market activity, Haggerty continued, "After more than two years of unprecedented market activity, we are finally seeing a recalibration back to more normal market conditions."

To hear more about CEO Haggerty's expectations for the NY regional spring housing market, please visit https://vimeo.com/813636268

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 50,000 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

SOURCE OneKey MLS