New York Regional Residential Sales Transactions Increase by 11.3% in May 2022

WEST BABYLON, N.Y., June 17, 2022 (Newswire.com) - 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 May 2022, OneKey MLS reported a regional closed median sale price of $605,000, representing a 4.30% increase over the reported $580,000 in April 2022. Between April and May 2022, closed regional sales transactions, including residential, condo, and co-op sales, increased to 5,173 from 4,647, representing an 11.30% 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.

Seven of nine counties reported an increased closed median sale price while two of nine counties reported a decrease. Rockland (15.90%), Orange (8.30%), Putnam (7.60%), Bronx (5.20%), Queens (3.90%), Suffolk (2.80%), and Nassau (2.50%) Counties had month-over-month increases in closed median sale price. Westchester (-1.9%) and Sullivan (-21.00%) Counties reported month-over-month decreases in closed median sale price. 

Jim Speer, CEO, OneKey MLS, said, "We are still seeing relatively low levels of available inventory across most of our area, which has created the imbalanced market still favoring the seller. Market conditions remain strong with closed median home prices on the rise in many areas across the New York Metropolitan region, despite the mortgage rate hikes that have been continuous since earlier this year." Speer continued, "With the Fed's latest announcement of a significant hike in interest rates, bringing the rate for a conventional 30-year mortgage to over 6.00%, we will see if buyers have reached a limit in terms of what they can afford and what they are willing to pay." 

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 through 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.

Press Contact: 

Tricia Chirco, SVP Marketing and Communications

631-670-0710 x405

[email protected]

Source: OneKey MLS