New York's Housing Market Shifts Toward More Balance

April 2026 Data  ·  Published May 2026

April 2026 data from the New York State Association of Realtors reveals a market in transition: prices continue climbing, supply is growing, yet fewer deals are closing — signaling a gradual rebalancing after years of extreme seller advantage.

Prices Are Rising — But the Pace Is Slowing

The median sale price across New York State reached $430,000 in April 2026, a 2.4% increase over the $420,000 recorded in April 2025. That is the continuing leg of a multi-year upward trend: just two years ago, in April 2024, the median stood at $405,000.

Average sale prices tell a similar story. At $569,509, the average is up 3.3% year-over-year and 4.4% on a year-to-date basis — reflecting stronger gains at the higher end of the market. For buyers, this means purchasing power continues to be tested, but the rate of appreciation has moderated considerably from the double-digit gains seen earlier in the decade.

What this means for buyers: Home values are still appreciating, which supports the long-term case for ownership. However, with price growth in the low single digits, buyers have more negotiating room than they did two or three years ago.

More Homes Are Coming to Market

One of the most significant shifts in April 2026 is the jump in new listings. Sellers added 15,408 new listings to the market — a 10.0% increase over April 2025's 14,012. This is the largest year-over-year gain in new supply in several months and brings total statewide inventory to 28,058 active listings, up 4.7% from last year.

The months supply of inventory — a measure of how long existing homes would last at the current pace of sales — ticked up to 3.2 months, from 3.1 a year ago. While this remains well below the six-month threshold typically associated with a buyer's market, the trend is clearly pointing toward greater balance.

What this means for buyers: More choices, and less pressure to waive contingencies or submit blindly above asking price. Sellers should price thoughtfully — the urgency of the pandemic-era frenzy has eased.

Fewer Deals Are Closing — And It's Taking Longer

Despite healthy listing activity, closed sales fell 8.0% year-over-year to 6,579 — continuing a trend of softening transaction volume. Year-to-date, only 26,851 sales have closed, versus 28,105 at the same point in 2025.

Homes are also spending more time on the market before going under contract. Days on market averaged 62 days in April 2026, up from 58 days in April 2025 — a 6.9% increase. This is a meaningful reversal from the frenetic 40-day pace seen in mid-2025, when the market was moving at its fastest clip.

Sellers are still receiving close to their asking prices — the percent of list price received stood at 101.1% — but that figure is down slightly from 101.6% a year ago, confirming that the bidding-war premium is shrinking.

April 2026 at a Glance

METRIC	APRIL 2025	APRIL 2026	CHANGE
New Listings	14,012	15,408	+10.0%
Pending Sales	9,422	9,461	+0.4%
Closed Sales	7,148	6,579	−8.0%
Median Sale Price	$420,000	$430,000	+2.4%
Average Sale Price	$551,184	$569,509	+3.3%
Days on Market	58	62	+6.9%
% of List Price Received	101.6%	101.1%	−0.5%
Inventory of Homes for Sale	26,796	28,058	+4.7%
Months Supply of Inventory	3.1	3.2	+3.2%
Housing Affordability Index	97	99	+2.1%

Affordability Shows a Modest Improvement

New York's Housing Affordability Index rose to 99 in April 2026, up from 97 in April 2025 — a 2.1% improvement. An index of 99 means the median household income is approximately 99% of what is needed to qualify for a median-priced home at prevailing interest rates. While the index remains well below the 100 threshold that signals full affordability, the trend is moving in the right direction for the first time in several years.

County-by-County Highlights

Conditions vary significantly across New York's 62 counties. Here is a look at selected markets based on median sale price in April 2026:

Queens County posted the most striking price surge among these four markets — up 17.4% year-over-year to a median of $675,000 — while Nassau County commands the highest median at $829,000, reflecting sustained demand from buyers seeking more space on Long Island. Suffolk County held steady with a 3.8% gain to $675,000. Kings County (Brooklyn) was the outlier, with the median sale price declining 8.4% year-over-year to $585,000, suggesting some softening in one of the city's most competitive submarkets.

The National Picture

New York's market does not operate in isolation. Nationally, U.S. existing-home sales fell 3.6% month-over-month and 1.0% year-over-year to a seasonally adjusted annual rate of 3.98 million, according to the National Association of Realtors. Affordability constraints and limited supply were cited as the primary drags on activity.

The national median existing-home price rose 1.4% year-over-year to $408,800 — the 33rd consecutive month of annual price gains — while national inventory stood at 1.36 million homes, representing a 4.1-month supply. New York's market largely mirrors these national dynamics, though prices here run considerably higher than the national median.

Key Takeaways for Buyers and Sellers

For buyers: The April data offers cautious encouragement. More homes are available, prices are rising more slowly, and homes are staying on the market longer — all of which translate into greater choice and reduced pressure. The slight improvement in the affordability index is welcome, though buyers in high-cost metro areas will continue to face significant hurdles. Getting pre-approved and acting decisively when the right home appears remains the recommended strategy.

For sellers: Homes are still selling above list price on average, and the market is far from a buyer's market at 3.2 months of supply. However, with new listings surging 10% and days on market rising, overpricing carries more risk than it did a year ago. Accurate pricing from day one — supported by recent comparable sales — will be critical to generating competitive offers rather than extended market time.

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Data sourced from the New York State Association of Realtors (NYSAR) Monthly Indicators Report, April 2026. All figures compiled from multiple listing services across New York State and include townhomes, condominiums, and existing single-family homes. County-level data current as of May 10, 2026. Report compiled by ShowingTime Plus, LLC.