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.
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.”
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