New York home prices continued climbing last month even as listings expanded yet again
New York home prices climbed to an all-time high in June. The statewide median sales price reached $475,000, according to data released July 21 by the New York State Association of REALTORS (NYSAR).
The figure marks an 8% year-over-year increase from $440,000 in June 2025, the highest median home price on record in New York State.
Housing inventory expanded alongside the price rise. The number of homes available for sale in New York increased 4.4% year over year, from 31,124 in June 2025 to 32,508 in June 2026. That marks 16 consecutive months of year-over-year inventory growth, per NYSAR.
Buyer and seller activity
Closed sales rose 0.8% from the prior year, rising from 9,214 homes in June 2025 to 9,286 in June 2026.
Pending sales posted a stronger gain. Contracts signed in New York rose 8.1% year over year, from 10,727 in June 2025 to 11,591 last month.
New listings also rose. Sellers brought 16,426 homes to market in June 2026, up 8.8% from 15,101 in June 2025.
The NYSAR data covers townhomes, condominiums, and existing single-family homes compiled from multiple listing services across New York State.
What New York home prices data shows for the Northeast
New York’s June results align with broader Northeast performance. The Northeast was the only US region to record a month-over-month increase in existing-home sales in June. Sales rose 2.1% to a seasonally adjusted annual rate of 480,000 units, according to NAR.
Nationally, there were an estimated 48.5% more home sellers than buyers across the US in June – a contrast to the Northeast, where inventory constraints have kept demand elevated. First-time buyers comprised 33% of existing-home sales in June, up from 30% a year ago, according to the NAR Confidence Index Survey.
Within New York State, two cities ranked among the top markets nationally for first-time buyers in 2026. Rochester took the number one spot and Syracuse ranked sixth. These rankings are based on a Realtor.com analysis that assessed affordability, inventory, economic conditions, and housing market strength.
Affordability and mortgage rates
The average 30-year fixed-rate mortgage rose slightly to 6.49% in June, up from 6.44% in May, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). The June rate remains below the 6.82% average recorded in June 2025.
Regionally, the Northeast posted the smallest affordability improvement of any US region in June. NAR data shows home prices in the Northeast rose 3.9% year over year while regional wage growth came in at 3.2%. This means price appreciation outpaced income gains – the only region where that was the case.
Nationally, the median existing home was priced at $446,400 in June. Qualifying for that required an annual household income of $109,152, assuming a 20% down payment and a 6.57 per cent fixed rate, according to NAR.
For mortgage brokers, 16 consecutive months of inventory growth in New York signals a gradual loosening of a market that has long constrained purchase volume. More listings mean more opportunities to move active buyers toward a close. Though at a record $475,000 median, pre-qualification conversations will need to account for the Northeast’s tightening affordability gap.
