The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
NAR continues to believe that offers of compensation are an important option to help make professional representation more accessible.
Starting out in her 20s, Rondon worked with real estate legend Faith Hope Consolo while at Garrick Aug Associates, where she spent 13 years.
FARMINGDALE, NY—OneKey MLS, reported earlier today (May 22) that the closed median sale price rose 4.00% in its market area that covers nine counties in the New York City Metro/Hudson Valley regions.
OneKey MLS reported a regional closed median sale price of $575,000 in April, as compared to the $553,175 reported in March 2023. Sales transactions in the region that included residential, condo, and co-op sales, decreased to 3,160 from 3,612, representing a decline of 12.50%. Across the region, pending sales transactions fell in a month-over-month comparison—reaching 4,759 in April—an 8.50% fall off from pending transactions than the 5,203 deals reported in March.
Seven of the nine counties reported an increased closed median sale price in a month-over-month comparison, while two counties reported a decreased median sale price. Sullivan (+15.80%), Bronx (+8.90 %), Suffolk (+5.70%), Queens (+4.80%), Orange (+3.60%), Nassau (+1.70%), and Rockland (+0.30%) counties reported month-over-month increases in closed median sale price. Westchester (-1.30%) and Putnam (-10.10%) counties reported month-over-month decreases in closed median sale price.
“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.”
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.
Made possible by the merger of MLSLI and Hudson Gateway MLS, OneKey MLS is one of the nation’s leading Multiple Listing Services, serving more than 50,000 Realtor subscribers and 4,500 participating offices throughout Long Island, Manhattan, and the Hudson Valley.
For further detailed statistical information about residential, condo, and co-op sales transactions, please visit https://www.onekeymls.com/market-statistics
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
NAR continues to believe that offers of compensation are an important option to help make professional representation more accessible.
Starting out in her 20s, Rondon worked with real estate legend Faith Hope Consolo while at Garrick Aug Associates, where she spent 13 years.
“The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” said NAR Chief Economist Lawrence Yun.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
