OneKey MLS: Region Remained Seller-Favored Market in March with Varied Pricing Shifts

FARMINGDALE—OneKey MLS, the leading real estate marketplace serving the New York regional market from Montauk to Manhattan and north through the Hudson Valley to the Catskill Mountains, released its monthly residential statistics for March 2025 on April 15, which reflected a continued competitive market that favors sellers.

In March, the closed median sale price for single-family homes in the region reached $718,500, an increase of 10.5% from $650,000 in March 2024. Condominium prices also saw a modest rise, with a closed median sale price of $515,000, up 3.6% year-over-year. In contrast, the co-op market experienced a decline, with a closed median sale price of $285,000, down 5% from $300,000 in the same period last year.

Transactional sales activity remained relatively steady for single-family homes, with closed sales rising 1.4% year-over-year. Meanwhile, closed sales for condominiums and co-ops declined by 4.7% and 8.8%, respectively.

Over the past year, real estate prices across the region have shown varied trends, with some counties experiencing steady growth and others marked by fluctuations. Westchester County consistently leads the market with the highest median sale prices, peaking at $1,031,500 in June 2024 before settling at $860,000 in March 2025. Queens and Nassau also remain strong markets, with median prices consistently in the $800,000+ range, showing moderate growth and relative stability.

In contrast, Sullivan County represents the more affordable end of the market, with notable volatility—rising from $290,000 in March 2024 to $390,000 in February 2025, then dropping to $355,000 in March 2025. Bronx prices saw a recent spike to $710,000, the highest in over a year, suggesting renewed demand or limited inventory.

Counties like Putnam, Orange, and Dutchess displayed moderate price shifts, generally ranging from the mid-$400,000s to mid-$500,000s, with signs of stabilization in early 2025. These areas may appeal to buyers seeking more affordability without straying too far from downstate urban centers.

OneKey MLS is one of the nation's leading Multiple Listing Services, serving tens of thousands of real estate professionals across Long Island, New York City, and the Hudson Valley. It is owned by the Hudson Gateway Association of Realtors and the Long Island Board of Realtors, Inc.