Home Prices Climb as Sales Decline: February Market Remains Competitive

Farmingdale, NY – December 16, 2025 – The New York real estate market remained strong and accelerated in November. Home values rose, and buyer interest increased. The regional median sales price jumped 6.5% year-over-year to $685,000, showing high demand in the New York Metropolitan area. Closed sales fell 7.5% year-over-year due to seasonality, but the market stayed strong. Pending sales rose across all housing categories: single-family homes up 4.0%, condominiums up 6.0%, and co-ops up 11.6%. This contract activity mirrors national patterns, underscoring that buyers are responding quickly to steady mortgage rates and favorable fall conditions. Richard Haggerty, CEO of OneKey® MLS, said: “Pending sales, especially the 5% jump across all property types, show buyers gaining confidence. Consumers are moving quickly, setting up an active start to 2026.” Meanwhile, the single-family homes segment continues to drive the market, with median sales reaching $750,000—a 6.3% increase from November 2024. As inventory remains limited, down 7.1% year-over-year for all property types, competition for move-in-ready homes continues to boost equity gains for current homeowners. Looking ahead, expect this competitive environment to persist into early 2026, as buyers remain eager despite limited options. Many are expanding their searches to surrounding counties and suburban markets in hopes of finding suitable homes. This increase in activity is likely to support continued price growth and keep market momentum strong as the new year begins, sustaining the region's positive trends. To access all local and regional housing market reports, visit https://marketstats.onekeymls.com .

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