Today, I am pleased to announce that later this month, we are bringing you a new OneKeyMLS.com listing search site that is bigger and better than ever before. Our team, which includes our website development team from Membio, together with MLS Staff, have been working hard to reinvent the current site, which launched shortly after we went live in 2020. The fact that the site has received over 13 million visitor sessions since going live indicates that there is a great thirst for a consumer search portal, and now we've made it even better.
Our commitment to serving your best interest has remained front and center throughout our site redesign. The objective of the consumer-facing site is to provide a lead-generating platform that represents the one source marketplace for consumers. OneKeyMLS.com has generated 4.7 million leads since going live via consumer alert emails, and now we aim even higher.
The next generation of the consumer site features innovative features, including more comprehensive listing data, faster search speed, and greater communication options between you and your consumers. As we move forward, we're offering the latest technology in saved geographic listing searches, texted listing alerts, and modern SEO designed to deliver greater exposure to your listings.
These are exciting times. Operating a product like this enables us to have full control over listing data and how it appears in searches. It affords us the opportunity to maintain our promise to provide the most accurate, reliable data.
We'll make sure you're the first to know when the site goes live. At that point, we'll encourage you to check it out and introduce it to your consumers as the true one source real estate marketplace.
Sincerely,
Richard Haggerty
Chief Executive Officer
OneKey® MLS
July Market Highlights
The OneKey® MLS Regional area, which includes Long Island, New York City, and the Hudson Valley, reported a closed median sale price of $633,000 in July 2023, representing an increase of 2.10% as compared to the reported $620,000 in July 2022. Additionally, in a month-over-month comparison, OneKey MLS reported a 3.40% increase in closed median home prices.
Across the regional coverage area sales activity has declined since June. There were 4,288 closed residential transactions and 4,642 pending transactions, following the reported 4,899 closed and 5,313 pending transactions reported the month prior.
The limited selection of homes on the market continues to make the industry headlines and presents challenging times for homebuyers everywhere. OneKey MLS reported that the available residential inventory in July was 17,211 compared to 23,275 last July, representing a 26.10% decline. According to Richard Haggerty, CEO of OneKey MLS, the current state of the regional market is due to a combination of high interest rates and limited available inventory. Homeowners are simply not motivated to put their homes on the market right now.
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