OneKey MLS: Steady Market Prices and Increases in New Listings Regionwide for May 2025
FARMINGDALE—OneKey MLS, the largest multiple listing service in New York, released its May 2025 market report on June 17 that highlighted steady median home prices and a healthy uptick in new listings throughout the New York Metropolitan area.
In May 2025, the closed median sales price for single-family homes rose to $735,000, marking a 3.5% year-over-year increase. Despite tighter inventory in some areas, the market has remained resilient, demonstrating continued buyer demand and strong seller confidence. Condominiums saw a slight dip in median price by 5.3% to $539,660, while coop prices remained steady at around $299,000.
Richard Haggerty, CEO of OneKey MLS, noted, “While we’re seeing subtle changes across property types, the broader market reflects solid stability. Buyers are adjusting to current interest rates, and sellers are responding by bringing more listings to the market. This spring has been characterized by motivated buyers and well-priced homes moving quickly, especially single-family properties that continue to attract competitive offers.”
New listings for single-family homes increased by 3.8% compared to last May, with 5,801 homes hitting the market in May alone. Condos and co-ops also saw new listings rise by 6.5% and 3.4% respectively, providing more options for buyers navigating a historically tight housing market.
As summer approaches, OneKey MLS expects market activity to remain brisk, driven by sustained buyer interest and a gradual improvement in available inventory. For the latest market insights and to connect with a trusted real estate professional, visit https://marketstats.onekeymls.com.
Editor’s Note: The Hudson Gateway Association of Realtors and the National Association of Realtors will release their respective reports and statistics on May sales activity next week.
