According to OneKey MLS, the closed median home price for Nassau, Suffolk and Queens counties increased from to $634,000 in May to $630,000 in April.
Low inventory continues to be the story, with the total number of residential listings down 7.70% from May 2021.
Jim Speer, CEO OneKey MLS, said of the new numbers:
“While home prices have remained relatively stable over the last several months, housing supply has also remained low. It’s going to take a while for buyer demand to be satisfied, so I would anticipate months of supply and inventory not changing drastically. Rising interest rates will likely keep home prices steady, despite the price increase one would expect to see associated with a limited supply of inventory.”
Source: https://www.onekeymlsny.com/market-statistics/
