Sub: OneKey® MLS, reporting detailed, month-over-month statistical information about residential, condo, and co-op sales transactions in the regional MLS coverage area, reported a 2.50% decrease in the closed median sale price between September and October 2022.
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 October 2022, OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease as compared to the reported $599,999 in September 2022. Between September and October 2022, closed regional sales transactions, including residential, condo, and co-op sales, decreased to 4,762 from 5,330, representing an 10.70% 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.
Six of nine counties reported a decreased closed median sale price in a month-over-month comparison, while two county reported an increased median price, and one reported no change. Rockland (-14.10%), Sullivan (-6.50%), Westchester (-4.00%), Nassau (-3.60%), Bronx (-1.70%), and Orange (-1.30%) Counties reported month-over-month decreases in closed median sale price. Putnam (+5.10%) and Queens (+1.50%) Counties reported increased closed median sale price, while Suffolk County (0.00%) reported no change.
Jim Speer, CEO OneKey MLS, said, “Home prices across our region are starting to decline as they’re being impacted by unpredictable market conditions. Buyers facing borrowing rates currently hovering around 7.00%, more than double the rates a year prior, are revisiting their buying choices because their purchasing power may have shifted. Gone are the days of the frenzied market.”
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 over 45,000 REALTOR® subscribers and 4,300 participating offices throughout 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.