New York Metro Round-Up: Prices Stay Strong, Inventory Stays Tight, and Buyers Stay Active

If there is one takeaway from May’s OneKey® MLS Regional Market Report, it’s this: the market is steady but still undersupplied.

Across the New York metro region, prices are holding firm, buyers remain engaged, and inventory remains the biggest constraint.

Here’s what we are seeing by region:

Long Island: Demand Continues to Support Pricing

Nassau and Suffolk Counties remain among the most competitive markets in the region. Inventory stays constrained, helping support continued price appreciation despite slower sales activity. In Nassau County, the median single-family sales price reached $890,000 in May, up 9.9% year-over-year, while inventory declined 7.3%. Suffolk County saw a 4.1% increase in single-family home median sales at $718,250, with inventory at 2,935, down 8.7% year-over-year. Buyers remain active, particularly for well-priced homes in desirable communities.

Westchester and Rockland: Tight Inventory, Strong Values

Westchester County continues to experience limited inventory and strong buyer demand, supporting price stability across property types. Rockland County saw single-family home prices rise 6.7% year-over-year in May, while inventory remained below historical norms. Even as homes spend more time on the market at 49 days, sellers continue to benefit from favorable conditions.

Hudson Valley: A More Balanced Market Emerges

Several Hudson Valley counties are beginning to show signs of a more balanced market.

In Orange County, single-family home inventory increased 10.9% year-over-year, providing buyers with additional options as prices continued to climb. Dutchess County also saw new listings increase 9.4%, and median single-family prices rise to $530,000. Putnam County remains particularly competitive, with single-family homes selling above the asking price on average and inventory declining by 11.6%.

The Hudson Valley markets are giving buyers slightly more breathing room, while demand remains healthy enough to support price growth.

Ulster and Sullivan: Buyers Becoming More Selective

Further north, the market is becoming more nuanced. Ulster County continues to see steady demand and rising home values, though properties are spending more time on the market than in previous months. Sullivan County recorded one of the region's largest single-family home inventory increases, giving buyers more choices and slowing sales activity.

New York City: Prices Remain Resilient

Across Queens, Brooklyn, and the Bronx, inventory is relatively limited while home values continue to trend upward.

Queens saw single-family home prices rise 4.8% on a rolling 12-month basis, while Brooklyn experienced notable price gains despite fewer transactions. In the Bronx, single-family home median sales prices increased 9% year-over-year in May, underscoring continued demand for attainable homeownership opportunities within the city.

How Are Clients Affected?

The regional market remains stable, competitive, and inventory-constrained. Buyers should stay prepared and selective, and well-priced homes continue to attract strong interest despite affordability challenges and limited inventory.

For sellers, price correctly from the start. For buyers, be ready to act when the right opportunity arises.

Explore more housing market insights at https://corporate.onekeymls.com/market-statistics.