Median home values rose across all property types, even as a shrinking supply of listings kept transaction volume in check.

FARMINGDALE, NY, UNITED STATES, March 17, 2026 /EINPresswire.com/ -- The New York metropolitan housing market saw steady price growth in February, with the median sales price for all properties increasing 2.3% year-over-year to $665,000, according to OneKey^® MLS. Total closed sales across all property types declined 1.9% to 2,854, reflecting limited inventory rather than reduced buyer demand.

Price gains occurred across all segments. Single-family home values increased 4.1% to a median of $744,000. Condominiums led with a 6.4% rise to $562,500, the highest appreciation in the report. Co-ops rose 1.6% to $294,500, remaining at a relatively accessible entry point for homeownership in the region. Additionally, condo closed sales increased 4.0% year-over-year to 393, contrary to the overall sales trend.

Supply is the story. Total homes for sale dropped 11.4% year-over-year to 11,793, with single-family inventory falling 16.6% to 7,011. New listings across all property types declined 15.3% to 3,951, further limiting buyer choices. At just 2.9 months of supply market-wide, conditions continue to favor sellers and sustain upward price pressure.

Buyers are acting quickly. Average days on market decreased 15.1% across all property types to 62 days, with every segment selling faster than last year. Co-op pending sales increased 8.4% year-over-year, and condo contracts rose 4.9%, indicating a strong pipeline as the spring selling season approaches.

“With prices climbing and homes moving off the market faster than last year, the fundamentals in our region remain strong,” said Richard Haggerty, Chief Executive Officer of OneKey^® MLS. “Inventory is still the primary constraint, but buyer engagement hasn’t wavered. As we move into spring, we expect that demand to fuel continued momentum — and continued opportunity — across the market.”

Nationally, the National Association of REALTORS^® reported that existing-home sales declined 8.4% in February to a seasonally adjusted annual rate of 3.91 million. The national median existing-home price increased 0.9% year-over-year to $396,800. The stronger price appreciation in the OneKey^® MLS service area highlights the region’s continued desirability compared to national trends.

OneKey^® MLS serves real estate professionals and consumers across Bronx, Dutchess, Manhattan, Nassau, Orange, Putnam, Queens, Rockland, Suffolk, Sullivan, and Westchester counties.

For the full report and detailed market insights, visit https://marketstats.onekeymls.com.

Richard Washington
OneKey MLS
+1 516-736-7846
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