OneKey MLS Shares New York Market Updates

OneKey MLS, which covers nine counties across southern New York, has released its monthly market report for its regional coverage. The report, covering March to April 2023, provides data on transactions in OneKey’s local markets. These transactions included single-family residential homes, co-ops, and condos. 

Key details

• Across OneKey’s covered counties, there was a median sales price of $575,000 in April 2023, a 4% month-over-month increase from $553,175 in March. 
• Closed regional sales transactions, including residential, condo, and co-op sales, decreased to 3,160 from 3,612, representing a decrease of 12.50%.
• Pending sales transactions declined to 4,759 in April, 8.50% fewer pending transactions than the 5,203 reported in March.

Changes across counties

• Seven of the nine counties reported increases in closed median sales price.
• Sullivan county reported the largest growth in closed median sales price, percentage-wise.
• Putnam county reported the highest decline. 
  • • Bronx
      • March 2023: $550,000
      • April 2023: $599,000
      • Change: 8.90% increase
    • Nassau
      • March 2023: $648,900
      • April 2023: $660,000
      • Change: 1.70% increase
    • Orange
      • March 2023: $345,000
      • April 2023:$357,500
      • Change: 3.60% increase
    • Putnam
      • March 2023: $420,000
      • April 2023: $400,000
      • Change: 10.10% decrease
    • Rockland
      • March 2023: $575,250
      • April 2023: $577,000
      • Change: 0.30% increase
    • Queens
      • March 2023: $649,000
      • April 2023: $650,000
      • Change: 4.80% increase
    • Suffolk
      • March 2023: $515,000
      • April 2023: $545,000
      • Change: 5.70% increase
    • Sullivan
      • March 2023: $233,250 
      • April 2023: $270,000
      • Change: 15.80% increase
    • Westchester 
      • March 2023: $572,000
      • April 2023: $564,500
      • Change: 1.30% decrease

The takeaway

“Low inventory seems to be keeping sellers from taking advantage of favorable selling conditions, where prices have mostly maintained throughout the region,” said Richard Haggerty, CEO of OneKey MLS. “We continue to have a lot of buyers and sellers taking a pause this spring, with all eyes watching the changes in mortgage rates.”

For more information, visit https://www.onekeymls.com/market-statistics.