Despite a slight uptick in housing inventory and continued mortgage rates below 7 percent, existing home sales in New York State declined in April, according to the housing report released today by the New York State Association of REALTORS® (NYSAR).
Closed sales of homes fell 6.2 percent in April, from 7,428 homes in 2024 to just 6,968 units last month. Pending sales inched up to 9,565 sales in April 2025 from 9,471 during April 2024, representing a slight 1.0 percent increase. New listings of homes in the Empire State rose 5.6 percent, from 13,246 listings in April 2024 to 13,989 listings in 2025.
Statewide housing inventory was up 3.1 percent in year-over-year comparisons, from 25,379 homes on the market last April to 26,165 units available in April 2025.
Mortgage rates remained under seven percent for the 14th consecutive month during April according to Freddie Mac. 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.
The median price of homes in New York rose again, marking 21 consecutive months of gains. In April 2024, the median home price was $410,000, which is 3.7 percent below the $425,000 price in April 2025.
Additional data is available at http://www.nysar.com/industry-resources/market-data.