OneKey® MLS, the largest MLS in New York, has announced that residential, condo, and co-op sales transactions in the regional MLS coverage area saw a 2.6% increase in closed median sale price month-over-month from April to May 2023.
OneKey® MLS, which provides monthly statistics for residential real estate transactions from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains, in May reported a regional closed median sale price of $590,000, a 2.6% increase as compared to the $575,000 reported in April 2023. Between April and May 2023, closed regional sales transactions, including residential, condo, and co-op sales, increased to 3,998 from 3,221, representing an increase of 24.1%, they reported. Across the region, pending sales transactions increased in a month-over-month comparison as well, reaching 5,482 in May, 17.5% more pending transactions than the 4,664 reported in April.
OneKey® MLS aggregates the real estate transactional data from nine counties making up the regional MLS coverage area, and reports individually on each county represented.
According to a release, 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. Putnam (+18.4%), Westchester (+13.5%), Orange (+9.8%), Rockland (+4%), Suffolk (+1.9%), and Nassau (+0.9%) Counties reported month-over-month increases in closed median sale price. Sullivan (-0.7%) and Queens (-0.8%) Counties and the Bronx (-1.1%) reported month-over-month decreases in closed median sale price, the MLS reported.
“It looks as though we’ve turned a corner and that market is no longer stagnating,” said Richard Haggerty, CEO of OneKey® MLS. “Hopefully, prospective sellers will continue to be motivated by the state of low inventory and relatively steady home prices to list their homes now, while the market is still trending in their favor.”
For more information, visit https://www.onekeymls.com/market-statistics.
