OneKey MLS, which maintains coverage in southern New York state markets, has released its monthly market report for June 2023.
Key details:
- Regional closed median sale price of $612,000, a 3.40% increase from the $592,000 reported in May 2023.
- Year-over-year, the closed median sale price held steady, decreasing less than 1% from the $615,000 reported in June 2022.
- Between May 2023 and June 2023, closed regional sales transactions, including residential, condo and co-op sales, increased to 4,747 from 4,063 – a month-over-month increase of 16.80%.
- Across the region, pending sales transactions decreased slightly by 1.30% in a month-over-month comparison, reportedly 5,355 in June 2023 as compared to the 5,424 in May 2023.
Median sales price, county-by-county breakdown:
- The Bronx
-
- May 2023: $640,000
- June 2023: $730,000
- Change: +14.10%
- Nassau
-
- May 2023: $665,000
- June 2023: $695,000
- Change: +4.50%
- Orange
-
- May 2023: $390,000
- June 2023: $427,000
- Change: +9.50%
- Putnam
-
- May 2023: $473,000
- June 2023: $455,000
- Change: -3.90%
- Queens
-
- May 2023: $645,645
- June 2023: $636,000
- Change: -1.50%
- Rockland
-
- May 2023: $600,000
- June 2023: $602,500
- Change: +0.40%
- Suffolk
-
- May 2023: $550,000
- June 2023: $570,000
- Change: +3.60%
- Sullivan
-
- May 2023: $268,110
- June 2023: $285,000
- Change: +6.30%
- Westchester
-
- May 2023: $640,000
- June 2023: $730,000
- Change: +14.10%
The takeaway:
“This may be an early sign that we will begin to see mortgage rates decrease in the next several months. Lower interest rates could be a catalyst that boosts market activity, prompting more sellers to list their homes, especially as price increases have softened,” said Richard Haggerty, CEO of OneKey.
For the full report, visit https://www.onekeymls.com/market-statistics.
