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 today that for March 2023, a regional closed median sale price of $550,000, representing no change as compared to the figure reported in February 2023. OneKey service area spans from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains.
Between February 2023 and March 2023, closed regional sales transactions, including residential, condo, and co-op sales, increased to 3,525 from 3,046, representing an increase of 15.75%. Across the region, pending sales transactions rose in a month-over-month comparison as well, reaching 5,268 in March, an increase of 35.70% in pending transactions than the 3,883 reported in February.
Six of nine counties reported an increased closed median sale price in a month-over-month comparison, while three counties reported a decreased median sale price. Westchester (+7.90%, $572,000), Putnam (+6.00%, $445,000), Rockland (+3.70%, $575,250), Queens (+2.50%, $615,000), Bronx (+1.90%, $550,000) and Nassau (+0.80%, $645,000) Counties reported month-over-month increases in closed median sale price. Suffolk (-3.20%, $515,000), Orange (-4.80%, $345,000), and Sullivan (-16.70%, $233,250) counties reported month-over-month decreases in closed median sale price.
Richard Haggerty, CEO OneKey MLS stated, “Historically, the number of home sales increases significantly in the springtime, so I am not surprised to see pending sales activity ticking upwards across our region, amid economic uncertainty.”
Indicating that seasonality has always been a reliable predictor of market activity, Haggerty continued, “After more than two years of unprecedented market activity, we are finally seeing a recalibration back to more normal market conditions.”
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 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.
