New York metro housing market opens 2026 with rising prices and strengthening buyer activity

Regional housing trends point to constrained supply today and a potentially more active market ahead.

Farmingdale, NY – February 18, 2026 – The New York metropolitan housing market entered 2026 with rising home values, more contract activity, and persistent inventory challenges, according to new data. 

Closed sales in the OneKey® MLS service area declined 6.6% year-over-year to 3,503 in January. However, the median sales price for all property types increased 4.3% to $677,777, reflecting ongoing price strength despite fewer transactions. 

Single-family home sales, the region’s largest segment, fell 7.1% to 2,565, while median prices rose 4.7% to $748,500, underscoring steady demand for detached homes. Condominium sales increased 3.6% year-over-year, while co-op sales declined 13.6%. The median co-op sales price rose 2.3% to $301,900. 

Inventory remains a key challenge. Homes for sale decreased 9.3% year-over-year to 11,977. The months' supply of inventory also fell to 2.9, maintaining competitive conditions across the region. 

New listings dropped 7.0% year-over-year, reflecting continued seller caution and limiting buyer choices. Despite low supply, pending sales increased by 5.7%, signaling greater buyer engagement and potential growth in future closings. 

Homes are selling faster. The average days on market decreased 14.3% year-over-year to 60, reflecting steady demand and continued buyer competition. 

“The housing market continues to demonstrate resilience as we begin 2026,” said Richard Haggerty, Chief Executive Officer of OneKey® MLS. “While inventory remains constrained, improving contract activity and price stability indicate that demand remains strong. As mortgage rates stabilize, we expect opportunities for increased market balance and transaction growth throughout the year.” 

Housing affordability improved slightly, with the regional affordability index rising 4.3% year-over-year. Nationally, existing-home sales increased 5.1% month-over-month, indicating early signs of market stabilization. 

OneKey® MLS serves real estate professionals and consumers across the New York metropolitan area, providing comprehensive housing data and market insights across 11 counties in the region. 

Explore the full report and get more detailed market insights at https://marketstats.onekeymls.com.