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New York Regional Home Prices Increases Slightly in Year-Over-Year Comparison Between 2022 and 2023

Logo for OneKey MLS, the ONE Source Real Estate Marketplace, containing the text OneKey MLS and a gold key icon.

OneKey MLS, the ONE Source Real Estate Marketplace

OneKey MLS, reporting statistical information about NY residential, condo, and co-op sales, reported a 2.1% increase in closed median sale price in the region.

FARMINGDALE, NEW YORK, UNITED STATES, January 26, 2024 /EINPresswire.com/ — OneKey® MLS is the one source real estate marketplace, aggregating statistics on residential real estate transactions across urban, suburban, and rural geographies, covering New York City, Long Island, and the Hudson Valley. For January through December 2023, in a year-over-year annual report, OneKey MLS reported a regional closed median sale price of $602,500, representing a 2.1% increase as compared to $590,000 reported over the same period in 2022. In 2023, closed sales transactions decreased 23.1%, from 63,443 closed sales transactions in 2022 to 48,817 in 2023.

For the month of December 2023, OneKey MLS reported a regional closed median sale price of $625,000, a 9.6% increase from $570,000, the closed median sale price reported in the month of December 2022. In a month-over-month comparison of closed median sale price, the closed median sale price rose less than 1% from the figure reported in November 2023, $619,500. Closed sales transactions decreased 15% in December 2023 in a year-over-year comparison from 3,270 in December 2022 to 4,406 in December 2023. Month-over-month closed sales transactions reportedly decreased 4.2% from 3,909 in November 2023.

Of national home sales in December 2023, NAR Chief Economist Dr. Lawrence Yun said, “The latest month’s sales look to be the bottom before inevitably turning higher in the new year. Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in the upcoming months.”1

For further detailed statistical information about residential, condo, and co-op sales transactions, please visit https://www.onekeymlsny.com/market-statistics

OneKey® MLS is one of the nation’s leading Multiple Listing Services, serving 48,000+ REALTOR® subscribers and 4,500 participating offices throughout Long Island, New York City, and the Hudson Valley. OneKey MLS provides reliable property listing data, invaluable market insights, and an extensive suite of innovative industry tools and services.

1 Copyright ©2024 “Existing-Home Sales Slid 1.0% in December.” NATIONAL ASSOCIATION OF REALTORS®.  All rights reserved. Reprinted with permission. January 19, 2024.

Tricia Chirco
OneKey MLS
+1 631-670-0710
tchirco@onekeymls.com
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