New York Regional Closed Median Home Price Increases Less Than 1.0% for the Fourth Consecutive Month
OneKey® MLS, reporting detailed month-over-month statistical information about residential, condo, and co-op sales transactions in the regional MLS coverage area, finds a 0.90% increase in the closed median sale price between March 2022 and April 2022.
WEST BABYLON, N.Y., May 18, 2022 (Newswire.com) - 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 April 2022, OneKey MLS reported a regional closed median sale price of $580,000, representing a $5,000 increase in the closed median sale price, or less than 1.00% higher than the reported figure in March 2022. Between March and April 2022, closed regional sales transactions, including residential, condo, and co-op sales, decreased to 4,629 from 5,264, representing a 12.1% month-over-month change.
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.
Whereas six of nine counties reported an increased closed median sale price, three of nine counties reported a decrease. Sullivan (22.3%), Westchester (9.3%), Orange (3.4%), Nassau (2.50%), Suffolk (2.4%), and Rockland (0.80%) Counties had month-over-month increases in closed median sale price. Queens (-7.90%), Bronx (-8.80%), and Putnam (-10.30%) Counties had month-over-month decreases.
Jim Speer, CEO, OneKey MLS, said, "In April, month-over-month regional home price gain was consistent with the slowing pace of the last several months of less than 1% month-over-month growth, an indication that the impact of inflation and rapidly rising mortgage rates are eroding the purchasing power from some would-be homeowners. Home prices can't exceed a buyer's ability to pay, so with inflation and interest rates on the rise, we can expect to see home price appreciation continue slowing in part across our region."
For further detailed statistical information about residential, condo, and co-op sales transactions, please visit http://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 45,000 REALTOR® subscribers and 4,300 participating offices through 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.
SVP Marketing and Communications Tricia Chirco
Source: OneKey MLS