Closed Median Home Sale Price in NY Metro Region Holds Steady in August

WEST BABYLON—For August 2022, OneKey MLS reported on Sept. 20 a regional closed median sale price of $621,500, representing a 0.20% increase over the reported $620,000 in July 2022.

Between July and August 2022, closed regional sales transactions, including residential, condo, and co-op sales, in the region covering Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains. increased to 6,281 from 5,727, representing an 11.3% month-over-month change.

Four of nine counties reported an increased closed median sale price while four of nine counties reported a decrease, and one reported no change. Sullivan (8.40%), Bronx (3.80%), Queens (1.20%), and Rockland (0.70%) counties had month-over-month increases in their closed median sale price. Suffolk (-1.70%), Nassau (-2.80%), Orange (-3.20%), and Westchester (-4.00%) reported month-over-month decreases in closed median sale price. Putnam County reported no change for the second consecutive month.

Jim Speer CEO OneKey MLS said, “In parts of our region, market data is beginning to suggest that real estate market conditions are starting to change. With the challenges of available inventory still at play, however, sellers are holding the cards. It’s too soon to say we are headed toward a balanced market.”

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.

For further detailed statistical information about residential, condo, and co-op sales transactions, please visit https://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 more than 45,000 Realtor subscribers and 4,300 participating offices throughout Long Island, Manhattan, and the Hudson Valley.