Home sales across New York State slowed in November, as closed sales declined and new listings and pending sales dipped slightly, while home prices continued to post strong gains, according to the housing report released today by the New York State Association of REALTORS®.

Closed sales fell 9.1 percent year-over-year, decreasing from 9,030 homes sold in November 2024 to 8,207 sales recorded in November 2025. Pending sales also edged lower, down 0.7 percent from 7,810 accepted offers last November to 7,757 this November. New listings declined 2.4 percent, slipping from 8,555 homes coming onto the market in November 2024 to 8,352 new listings in November 2025.

While sales dipped, home prices continued to rise. The median sales price increased 5.0 percent year-over-year, climbing from $400,000 in November 2024 to $420,000 last month. This marks 28 consecutive months of rising median home prices in year-over-year comparisons.

Housing inventory continued to expand modestly, increasing 0.9 percent from 27,467 homes available in November 2024 to 27,715 properties on the market this past month.

Mortgage rates continued to hold steady in November. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage was 6.24 percent in November 2025, down slightly from 6.25 percent in October. By comparison, rates averaged 6.81 percent in November 2024, reflecting over a half a percentage point year-over-year decline.