New York Metro home sales rise as July prices hit record high

The New York Metro Area housing market stayed hot in July, with closed sales up 5.3% and the regional median sales price climbing to $745,000 across the OneKey MLS service area. Tight inventory, faster sales and prices above asking show buyers still facing a competitive summer market.

Why it matters: - The New York Metro Area market is still favoring sellers, with limited supply pushing prices higher even as more homes change hands. - Buyers are competing for fewer listings, and homes are moving faster than earlier in the year. - The region’s pricing strength mirrors a broader national trend of rising home values.

What happened: - Closed sales for all property types rose 5.3% year-over-year in the OneKey MLS service area to 4,907 in July 2026. - The regional median sales price increased 6.4% from a year earlier to $745,000. - Single-family home sales climbed 7.8% to 3,807. - The median single-family sales price rose 3.9% to $800,000. - Condominium prices increased 4.8% to a median of $550,000. - Co-op prices rose 1.0% to $303,000.

The details: - Single-family homes sold in a median of 40 days in July. - Single-family homes closed at 102.1% of their original list price. - Regional inventory stood at 4.1 months, keeping supply tight across the market. - Richard Haggerty, CEO of OneKey MLS, said demand is clearly present and inventory remains the main challenge. - Haggerty said buyers are competing for every listing that becomes available. - The full regional report and county-level data are available here.

Between the lines: - Higher sales and faster closings suggest buyers are still active despite elevated prices and constrained supply. - The market’s resilience in late summer points to continued urgency among purchasers, especially in the single-family segment. - National data reinforce the same pattern, with U.S. existing-home sales up 2.8% year-over-year and the national median existing home price at a record $440,600. - Nationwide homes spent a median of 28 days on the market, and first-time buyers accounted for 33% of purchases.

What's next: - Late summer will likely remain competitive unless inventory improves meaningfully. - Any increase in listings could ease bidding pressure, but current supply levels suggest sellers may keep the upper hand. - OneKey MLS will continue publishing regional and county-level market data for the New York Metro Area.

The bottom line: - July showed a market with strong demand, record pricing and too little supply to cool competition.