New York housing inventory rises nearly 10 percent in September

The number of homes available for sale across New York State increased nearly 10 percent in September, while home prices continued to rise compared to a year ago, according to the latest housing report released by the New York State Association of REALTORS®.

Statewide housing inventory climbed 9.8 percent year-over-year, from 32,149 homes in September 2025 to 35,294 homes in September 2026. Months’ supply of inventory also grew 11.1 percent, increasing from 3.6 months to 4.0 months. A 6-month to 6.5-month supply is generally considered a balanced housing market.

Home prices continued their upward trend in September. The statewide median sales price rose 5.9 percent to $450,000, up from $425,000 one year earlier. This marks six consecutive months in increasing median sales prices.

Closed sales dipped 1.4 percent in September, falling from 10,029 transactions a year ago to 9,893 last month. Pending sales declined 5.4 percent, from 9,614 homes under contract in September 2025 to 9,091 this year. Meanwhile, new listings edged up 1.2 percent, with 13,867 homes entering the market compared to 13,696 in September 2025.

Mortgage rates moved higher in September, averaging 6.86 percent on a 30-year fixed-rate mortgage, according to Freddie Mac. That was up from 6.67 percent in August and 6.35 percent in September 2025. Rates also climbed above 7 percent toward the end of the month, reaching 7.03 percent on September 24. It marked the first time the weekly average had topped 7 percent since January 2025, when rates reached 7.04 percent.