New York Regional Median Home Price Holds Steady Between October and November 2023

OneKey® MLS, reporting detailed, month-over-month statistical information about residential, condo, and co-op sales transactions in the regional MLS coverage area, reported 0.00% change in closed median sale price between October and November 2023.

FARMINGDALE, N.Y., Dec. 21, 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 November 2023, OneKey MLS reported a regional closed median sale price of $615,000, a 0.00% change as compared to the figure reported in October 2023. In a year-over-year comparison, the closed median sale price increased 7.00% from $575,000, reported in November 2022. Between October 2023 and November 2023, closed regional sales transactions, including residential, condo, and co-op sales, decreased 11.00% to 3,847 from 4,321. Year-over-year, transactions were down 17.7% from November 2022.  Across the region, pending sales transactions decreased 10.70% in a month-over-month comparison, reportedly 3,828 in November 2023 as compared to 4,288 in October 2023. Year-over-year, pending residential sales were up 1.70% in November, from 3,763 the year prior.

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.

Five 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, and two reported no change. The Bronx (+11.20%), Putnam (+8.00 %), Orange (+2.50 %), Rockland (+2.00%), and Westchester (+0.80%) Counties reported month-over-month increases in closed median sale price. Nassau (-2.10%) and Sullivan (-4.2%) reported decreases in month-over-month residential sale price, while Suffolk and Queens Counties reported no change (±0.00%).

OneKey MLS CEO Richard Haggerty is optimistic about next year's housing market, citing anticipated lower interest rates, which may increase bring more houses to market. "I think that we're going to continue to see a downward trend with interest rates and that should really set the table for a much more robust 2024. Interest rates really affect sellers' decisions more than buyers..."

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