New York Regional Single-Family Home Price Increases 8.9% in April

Bringing positive housing news to both sellers and buyers in one of New York’s priciest areas, housing prices and inventory are both up over last year, according to the latest market report from OneKey MLS, which covers transactions from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains.  

OneKey’s latest data shows the New York regional closed media sale price for single-family homes in their coverage area increased 8.9% over last year, rising from $615,000 in April 2023 to $670,000 this past month. For condominiums, OneKey’s data shows a closed median sale price of $507,000, a 3.5% increase over last April’s $490,000 price. And the closed median sale price of co-ops was $290,000, representing a slight increase over the $289,000 price reported in April 2024, the report showed.

In April, single-family closed sales activity saw a 1.9% increase with 2,488 transactions, compared to 2,442 transactions in the same month last year. There were 501 condo closed sales transactions reported, representing an 8.9% year-over-year increase in activity. Additionally, there were 556 co-op closed sales transactions in April 2024 compared to 575 transactions the previous year, representing a 3.3% decrease in sales, according to the report.

A positive indicator in April was the increase in the number of new listings added to the MLS database. OneKey MLS reported 7,636 new listings, which represents the total of single-family, condo, and co-ops, in April 2024 compared to 6,791 reported the prior year. With more available inventory, consumers have more choices, the report noted.

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