Metro New York June home sales rise as prices keep climbing

Closed sales and pending sales increased across the New York Metro Area in June even as inventory stayed tight and affordability remained under pressure. The median sale price reached $725,000, underscoring a market where demand is still outpacing supply.

Why it matters: - Metro New York’s housing market is still drawing buyers even with limited supply. - Rising sales and prices point to continued competition for homes heading into summer. - Affordability remains strained as inventory stays below balanced-market levels.

What happened: - Closed sales across all property types rose 3.9% year over year to 4,258 in June. - Single-family home sales increased 4.0% to 3,195. - Condo sales rose 1.2% to 523. - Co-op sales climbed 5.7% to 540. - Pending sales increased 16.7% to 5,407. - New listings rose 7.5% to 7,168. - The all-property median sale price reached $725,000, up 3.6% from June 2025.

The details: - Single-family homes posted an $800,000 median sale price. - Condo median sale price rose 6.8% to $550,000. - Co-op median sale price edged up to $300,000. - The all-property affordability index held at 65 year over year. - Single-family affordability declined to 57. - Inventory across all property types stood at 4.1 months. - OneKey MLS said the market is still being shaped by demand exceeding supply. - Richard Haggerty, chief executive officer of OneKey MLS, said inventory is being absorbed almost as fast as it reaches the market. - The June figures come after a limited winter inventory period that left buyers with fewer choices.

Between the lines: - The data show a market where modest gains in supply have not been enough to cool prices. - Higher pending sales suggest demand remained strong entering the summer, which could keep pressure on listings. - The affordability picture worsened most for single-family buyers, where rising prices are moving faster than income growth. - National housing trends mirrored the local pattern, with U.S. existing-home sales rising 3.2% month over month and year over year to a seasonally adjusted annual rate of 4.17 million units. - National inventory heading into June was 1.55 million homes, equal to a 4.5-month supply. - The national median existing-home price hit a record $429,300.

What's next: - OneKey MLS said the market will keep tracking how quickly new listings are absorbed. - June’s pending-sales gains suggest activity could stay elevated into the rest of the summer. - The full June Housing Market Insights report is available here.

The bottom line: - Metro New York buyers are back in force, but tight supply is keeping affordability under pressure and prices on the rise.