Closed home sales in New York State totaled 7,846 during May, a 10.9% decline from the 8,807 sales recorded in May 2024. According to data from the New York State Association of Realtors, pending sales dropped to 10,279 units last month from 10,421 homes one year earlier, a 1.4% downturn.
At the same time, there were 15,745 new listings last month, a 3% uptick from the 15,279 listings available in May 2024. The statewide inventory of homes rose 3.6% from 27,806 houses in May 2024 to 28,810 available last month.
The median sales price in New York State for May was $436,000, up 3.8% from the $420,000 price set one year earlier. This marks 22 consecutive months median sales prices have risen month-over-month.
