This legislation will make available an opt-in tax incentive to incentivize redevelopment of vacant or abandoned one-to-four family homes for use as affordable homeownership or rental housing.
This year’s breakfast featured Kenny Burgos, former New York State Assembly Member and now CEO of the New York Apartment Association, as keynote speaker.
The region’s current month’s supply of inventory stands at 3.9 months—below the 4-to-6-month range typically associated with a balanced market.
The region’s current month’s supply of inventory stands at 3.9 months—below the 4-to-6-month range typically associated with a balanced market.
FARMINGDALE—OneKey MLS released its September 2025 residential market statistics earlier this week, revealing continued stability in home prices and modest gains in sales activity across the New York regional area.
Closed sales for all property types rose 1.3% year-over-year to 4,257 transactions. Single-family home sales increased 2.8%, while condominium sales climbed 3.2%. Co-op sales, however, declined 8.9%. The overall median sale price, encompassing single-family homes, condos, and co-ops, rose 6.9% to $695,000, with co-ops leading price growth at 8.0%.
Inventory levels remained tight, with the number of homes for sale down 3.4% compared to September 2024. The region’s current month’s supply of inventory stands at 3.9 months—below the 4-to-6-month range typically associated with a balanced market.
While regional metrics signal a stable housing environment, county-level data highlight ongoing variation in performance:
These mixed results suggest that while buyer demand remains solid in core suburban and urban areas, some outer counties are seeing price adjustments influenced by affordability pressures and local supply dynamics.
With pending sales up 14.4% month-over-month, the regional housing market appears positioned for continued momentum heading into the fourth quarter. However, affordability remains a growing concern, as the regional housing affordability index declined 8.5% compared to last year.
To access all local and regional housing market reports, visit https://marketstats.onekeymls.com.
This legislation will make available an opt-in tax incentive to incentivize redevelopment of vacant or abandoned one-to-four family homes for use as affordable homeownership or rental housing.
The two organizations plan to conduct due diligence and finalize definitive agreements by the end of 2025, followed by the pursuit of required regulatory approvals.
The competitive and economic assumptions underpinning our application have shifted, altering our return expectations on the proposed $2.3-billion investment.
The latest drop, the second month-over-month decline since March, reflects the market's normal cooling heading into fall.
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