Housing inventory across New York State dropped to 22,366 homes on the market in February, a 3.9% decline from the 23,266 homes available one year earlier. According to the New York State Association of Realtors (NYSAR), this is the lowest inventory level since the organization began tracking data in 1997.
“We appreciate New York State’s commitment to expanding housing opportunities, but the latest data makes clear that the shortage isn’t improving fast enough and demands more immediate action,” said 2026 NYSAR President Ron Garafalo. “We respectfully urge the legislature and Gov. Hochul to accelerate efforts to remove barriers and help facilitate increased housing production across the state.”
Closed sales statewide were down 10.8%, falling from 8,601 homes sold in February 2025 to 7,673 homes last month. Pending sales dropped 8.0% from 6,707 homes under contract in February 2025 to 6,169 last month. New listings totaled 5,867 in February, down 3.9% from 6,103 properties one year before.
The statewide median sales price last month was $425,000, unchanged from February 2025.
Photo: Dennis Tangney Jr. / Getty Images
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