Inventory increased in the latest month ALBANY — New York realtors closed on the sale of 6,968 previously owned homes in April, down 6.2 percent from the 7,428 homes they sold in April 2024. However, realtors saw a slight increase in pending sales in April, pointing to an uptick in closed sales possibly coming in […]
Inventory increased in the latest month
ALBANY — New York realtors closed on the sale of 6,968 previously owned homes in April, down 6.2 percent from the 7,428 homes they sold in April 2024.
However, realtors saw a slight increase in pending sales in April, pointing to an uptick in closed sales possibly coming in the next couple months. That’s according to the New York State Association of Realtors (NYSAR) April housing report issued on May 22.
NYSAR cites Freddie Mac as indicating mortgage rates remained under 7 percent for the 14th straight month during April. The average rate on a 30-year fixed rate mortgage during April closed at 6.73 percent. By comparison in April 2024, the rate sat at 6.99 percent. Freddie Mac is the more common way of referring to the Virginia–based Federal Home Loan Mortgage Corporation.
New York sales data
Pending sales in the state totaled 9,565 in April, an increase of 1 percent from the 9,471 pending sales in the same month in 2024, according to the NYSAR data.
The inventory of homes for sale in New York state totaled 26,165 in April, up 3.1 percent from the April 2024 figure of 25,379. Inventory in the state had hit 22,518 in February of this year, the lowest number of homes for sale since NYSAR began tracking data in 1997, it said.
New listings of homes in the Empire State rose 5.6 percent to 13,989 this April from 13,246 in April 2024, NYSAR said.
The months supply of homes for sale at the end of April stood at 3 months, up from 2.9 months at the end of April 2024, per NYSAR’s report. A 6-month to 6.5-month supply is considered a balanced market, the association said.
Home prices continued to rise in the latest month. The April 2025 statewide median sales price was $425,000, up 3.6 percent from the April 2024 median sales price of $410,000. This marks 21 straight months of year-over-year price increases in home prices, NYSAR noted.
All home-sales data is compiled from multiple-listing services in New York, and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.
